AKINON
12.10.2021 08:32:13 CEST | Business Wire | Press release
Akinon, a cloud-based headless commerce platform focused on major retailers and consumer brands, raised USD 20m in a Series B funding round co-led Actera Group and Revo Capital, with participation from SmartFin Capital and Endeavor Catalyst.
Akinon’s software, with its API first architecture, streamlines retail sales via online channels as well as physical stores, and provides end-to-end support in managing orders, user experience and customer data. As a cloud-based solution provider supporting digital transformation of leading global brands, Akinon has been a sought-after partner for numerous retailers across 17 countries, including Turkey, Russia, Ukraine, Poland, Hungary, Czech Republic, and Greece.
Akinon’s customer base ranges from small-to-medium size enterprises to larger clients with USD 1bn in revenue. At its home market Turkey, company serves around half of the top 100 retailers such as Lacoste, Marks & Spencer, Sephora, and Gap. The company charges a commission based on the gross merchandise value and managed USD 315m in GMV in 2020, growing at a rate of more than 150% year-over-year and plans to increase its annual GMV to more than USD 1bn in 2022.
Series B proceeds will be used to enhance global competitiveness of its services, boost its service quality, and step up its global growth by expanding into MENA, Eastern Europe and Asia.
Akinon co-founder and CEO Tolga Tatari commented on the funding: “We continue to work very hard with our strong team of 400 and plan to double that number in 2022. Our goal is to double our revenue next year by expanding in new regions where we plan to establish and work with local partners.”
The retail sector is on the inflection point in the history of retail where the distinction between online and brick-and-mortar retail has disappeared. More than ever businesses need effective and efficient ways to sell through multiple channels and plan to invest even more in the tools and experiences that will unite their digital and physical operations. Akinon helps its customers make the most of e-commerce enablement at a time when their traditional retail businesses have been disrupted, by dramatically expanding their revenue and market potential.
Tatari and his two co-founders, Ahmet Sari and Cagri Orcan are previously also founders of Markafoni, the leading e-commerce company of Turkey, which was acquired by Naspers in 2014.
Actera Group expressed their excitement: “We are excited to be backing a very experienced team in omnichannel commerce, and be a part of Akinon’s next phase of growth in Turkey and in international markets.”
Revo Capital’s Founding Partner & Managing Director Cenk Bayrakdar commented: “We are big believers in the strength of the management team to execute their vision to revolutionize commerce through its cloud-based omnichannel experience platform with an expanding set of tools and features.”
SmartFin Capital's Founding Partner Jurgen Ingels said: “We are just at the beginning of the cloud-based commerce platform revolution and we believe that Akinon has the technology and the experience to become one of the world leaders in that segment. This new capital round will allow us to increase our internationalization and service even more global companies.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005724/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
GigaDevice Deepens Ecosystem Collaboration with LVGL to Advance GD32’s Global Open-Source GUI Ecosystem12.10.2026 15:00:00 CEST | Press release
GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, is deepening its ecosystem collaboration with LVGL. LVGL's Open graphics library is one of the world’s most widely‑adopted open‑source embedded frameworks. Eight GD32 MCU product families have now been officially included in the LVGL ecosystem, providing developers worldwide with more convenient and efficient support for embedded graphics development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012320702/en/ Eight GD32 product series supported on LVGL website LVGL is an open-source graphical user interface framework designed for embedded devices, commercially supported by LVGL Ltd., a technology company based in Cambridge, UK. Lightweight, efficient, and cross-platform, it can be widely used in applications such as smart home devices, industrial control systems, consumer electronics, a
W. L. Gore & Associates Launches GORE® Battery Vents – MultiVent Series at the Battery Show12.10.2026 14:00:00 CEST | Press release
The integrated battery vent combines pressure equalization, moisture protection, and resealable thermal-runaway evacuation in a single part, with one opening in the pack wall. Today, W. L. Gore & Associates (Gore) introduced GORE® Battery Vents – MultiVent Series at The Battery Show North America 2026, a new integrated venting architecture that combines all three functions into a single device. Designed for lithium-ion battery packs in electric vehicles and energy storage systems, GORE® MultiVent is an integrated battery vent: one device that equalizes pressure, protects against moisture and evacuates gas during thermal runaway, then reseals. It gives pack designers an alternative to combining dual-stage vents, separate evacuation valves and desiccants. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012625188/en/ GORE® MultiVent GORE MultiVent builds on technology Gore acquired from Vernay Laboratories in 2026 and combine
Echodyne and ACS Sign Strategic Collaboration Agreement to Advance Counter-UAS Capabilities Worldwide12.10.2026 14:00:00 CEST | Press release
Successful integration of EchoShield® radar with ACS’s Bullfrog™ autonomousweapon station delivers precise tracking and affordable kinetic defeat across land and maritime missions. Echodyne, the radar platform company, and ACS, a precision robotics company for defense, today announced the signing of a Strategic Collaboration Agreement to accelerate the development, demonstration, and deployment of integrated counter-unmanned aircraft system (C-UAS) solutions. The agreement establishes collaboration across Echodyne’s high-performance commercial counter-UAS radar hardware and software roadmaps and ACS’s Bullfrog robotic weapon station capabilities, and follows the recent announcement of each company’s award from Joint Interagency Task Force 401 for Domestic Shield, the JIATF-401 C-UAS Marketplace, and other critical counter-drone requirements. Bullfrog combines computer vision, autonomous control, and precision robotics with existing weapon systems to detect, track, identify, and engage
Doctors, Public Health Experts and Dental Leaders Call for Oral Health to Become Part of Everyday Health Care12.10.2026 13:34:00 CEST | Press release
New international consensus connects healthier teeth and gums with overall health and identifies practical daily steps, including effective plaque removal, that can help prevent oral disease Doctors, public-health experts and dental leaders are calling for oral health to be treated as part of overall health. Their message is clear: healthier teeth and gums matter beyond the mouth, and effective daily prevention should become a routine part of health care. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261015403348/en/ Oral health is part of overall health. Leading health experts are calling for oral health to become part of everyday health care, with prevention starting at home through healthier habits and daily care of teeth and gums. The new international consensus goes well beyond dentistry. It brought together experts in periodontology, cardiology, diabetes care, family medicine, public health, social care and health edu
Pacific Defense Launches NEXUS, a Converged C2 and Electromagnetic Warfare Mission System12.10.2026 13:30:00 CEST | Press release
COTS, open-architecture system brings communications, networking, edge computing, sensing and electronic effects onto a common SOSA™ and CMOSS-aligned architecture Pacific Defense, a leading provider of open-architecture C5ISR and electronic warfare mission systems, today announced the launch of NEXUS, a Commercial Off-the-Shelf (COTS) mission system that converges command and control, communications, networking, edge computing, and electronic warfare on a common, adaptable architecture. Built on a Modular Open Systems Approach (MOSA) aligned to SOSA™, CMOSS and OpenVPX™, NEXUS enables mission-specific configurations across mobile, fixed-site, maritime, and airborne operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261012010656/en/ NEXUS converges EW and C5ISR in one, open-architecture system for missions across ground, maritime, and airborne operations. NEXUS brings capabilities traditionally integrated through sep
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom