Penny Black, an e-commerce platform that turns packaging into a marketing channel, has received £1.3 million in seed funding from AGFA and ninepointfive.
Incubated in AGFA’s innovation lab, supported by ninepointfive, Penny Black launched independently in the UK and Europe in April.
Its software connects e-commerce stores, marketing tools and fulfilment operations to deliver personalised experiences at the moment customers open their e-commerce packages.
The startup works with the likes of luxury jewellery and watch retailer, PAUL VALENTINE, tea mixology company, Bird & Blend and the online nursery décor store, the Modern Nursery.
Penny Black has also worked with global e-commerce fulfilment providers, like Radial and Cloud Fulfillment, as well as marketing automation firm Klaviyo.
Pieter Van de Velde, Founding Partner from ninepointfive, which has invested £650k in the aforementioned round, says: “Penny Black is one of the only players tackling (and succeeding in delivering) this ‘physical touchpoint’ in a thriving e-commerce market in which there is a growing need of diversification of channels to reach their customers.”
“In a blink of an eye, Penny Black has steadily secured its position in the e-commerce ecosystem, as VC we are delighted with its success and look forward to enabling its future growth.”
Stefanie Donat, Head of Supply Chain and Logistics at PAUL VALENTINE, comments: “We are constantly seeking ways to understand and connect with our customers and using Penny Black’s technology we can deliver truly personalised, on-brand experiences that create immediate impact.”
“For example, using its personalised approach we have seen 7% scan rates, resulting in a 15% conversion rate on second purchases.”
Douglas Franklin, CEO, Penny Black, says: “The meteoric rise of e-commerce means that packaging is quickly becoming the only physical contact brands have with their customer.”
“This makes it a hugely influential content channel in…
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