Fabric joins unicorn club with $200 million Series C

Israeli retail technology startup Fabric announced on Tuesday that it has closed a $200 million Series C funding round at a company valuation of over $1 billion. The round was led by existing investor Temasek, with participation from Koch Disruptive Technologies, Union Tech Ventures, Harel Insurance & Finance, Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), Canada Pension Plan Investment Board (CPP Investments), KSH Capital, Princeville Capital, Wharton Equity Ventures, and others.

Fabric was founded in 2015 by Ori Avraham, Eyal Goren, Elram Goren, and Shay Cohen. The company employs 300 people in Israel, New York, and Atlanta and has raised $336 million to date.

“We are very focused on the U.S. market but the connection with Temasek creates additional opportunities for the future that we will not rule out,” CEO Elram Goren told Calcalist. “2020 was a positive year as far as market entry but it was difficult to complete projects due to the circumstances. We started with two active centers but by the end of next year, we will have over 10. We are in the early stages of significant growth.”

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