Reverse logistics tech provider Optoro Inc. will expand its returns technology platform thanks to a $25 million investment from high-profile logistics providers Zebra Technologies Corp., eBay Inc., and UPS Inc., as well as the British investment firm Volta Circle, the companies said today.
Washington, D.C.-based Optoro says it provides returns technology for retailers and brands, using data science and real-time decision making automation, spanning platforms like an easy online customer returns portal, warehouse processing, and resale software.
The company has previously been backed by investments from retailers, such as a 2019 round from Ingka Investments, the investment arm of IKEA Retail U.S. Following that move, Ikea implemented Optoro’s technology in 10 distribution centers, 50 retail stores, and its U.S. customer support center.
Zebra and Optoro will now team to offer an end-to-end reverse logistics solution that optimizes retail returns processing. In addition to the investment, the companies will also pursue new solutions and technology to further innovate returns management, cutting waste and driving more profitable growth for retailers, they said.
“Zebra is investing in Optoro based on its strong track record of helping its retail customers overcome the challenges accelerated by the pandemic,” Tony Palcheck, managing director of Zebra Ventures at Zebra Technologies, said in a release. “The results of our recent Global Shopper Study showed eight-in-10 North America shoppers prefer retailers who offer easy returns while only six-in-10 retail associates say their companies are highly experienced with online returns. We believe Optoro will continue to grow in the areas that align well with our own vision for retail and ecommerce in the era of the on-demand economy.”