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MOBILE & TELECOMMUNICATIONS | Mobile Commerce / Food & Grocery
stockwell.ai

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Founded Year

2016

Stage

Acquired | Acquired

Total Raised

$46.5M

About Stockwell

Stockwell, fka Bodega, installs convenience store-like kiosks in apartment buildings, gyms, or other infrastructure to sell consumer goods. Users can use a mobile application to get access to and pay for products.On August 13, 2020, Stockwell was acquired by 365 Retail Markets, terms of the transaction were not disclosed.

Stockwell Headquarter Location

405 14th Street Floor 7

Oakland, California, 94612,

United States

(510) 269-7423

Latest Stockwell News

Remembering the startups we lost in 2020

Dec 23, 2020

EditorialTeam 11 min read Even in a non-hell yr, operating a profitable startup is an incredible elevate. After the occasions of 2020, nevertheless, little doubt many already lean companies are hanging on by the pores and skin of their enamel. For each firm that noticed elevated curiosity of their choices through the pandemic, there have been a number of that merely couldn’t make it via the end line. We’ve put this record collectively for a number of years now. It’s not a enjoyable activity, but it surely appears worthwhile to commemorate the startups which have closed up store over the previous 12 months. (Some of them have been acquired by bigger firms earlier than shutting down, however all of them started their life as startups, and it nonetheless felt worthwhile to mark the top of their tales.) It additionally affords a possibility to look at these points from a little bit of distance to see if there are any broader takeaways for the neighborhood at giant. This yr’s record is among the many most various we’ve accomplished, starting from normal smaller-name closures to huge blockbuster crashes like Quibi and Essential . For some, the pandemic was the ultimate nail within the coffin, however in lots of circumstances, cracks in enterprise fashions have been already beginning to floor nicely earlier than COVID-19 floor the worldwide financial system to a screeching halt. Atrium (2017-2020) Total Raised: $75 million Atrium, a 100-person authorized tech startup based by Justin Kan, shut down in March after failing to seek out an environment friendly technique to exchange the arduous methods of regulation corporations. The startup even returned a few of its $75.5 million in funding to its traders, together with Andreessen Horowitz. The shutdown comes after the platform had pivoted simply months earlier, shedding in-house attorneys and turning right into a clearer SaaS play. Ultimately, Atrium’s failure reveals how tough and unprofitable it may very well be to disrupt a standard and sophisticated system. The closure got here simply three years after it launched with the purpose to construct software program for startups to navigate fundraising, hiring, acquisition offers and collaboration with their authorized workforce. Essential (2017-2020) Image Credits: Darrell Etherington Big plans, huge names and a boatload of cash ought to have been sufficient to purchase Essential a prolonged runway. Sure, Essential was coming into a mature and oversaturated market, however the Playground-backed startup was doing so with $330 million in funding, a workforce of high trade executives and a few genuinely modern concepts. When I spoke to the corporate at launch, an government outlined a 10-year plan to turn into a serious participant in each the cell and good dwelling classes. Ultimately, the corporate was capable of eke out slightly below three years of life after popping out of stealth. And whereas it did give the world a promising handset, its related dwelling hub by no means arrived. Timing, broader advertising points and troubling allegations of sexual misconduct have been all contributing elements that stopped Essential’s huge plans lifeless of their tracks. HubHaus (2016-2020) Image Credits: HubHaus HubHaus, based by Shruti Merchant, was a long-term housing rental platform rooted within the perception that grownup dormitories would take off. The startup focused working professionals in cities, and raised solely round $11 million in recognized enterprise capital. When it got here to elevating a Series B, Merchant says the corporate struggled to shut and misplaced investor curiosity resulting from WeWork’s failed IPO. After then pivoting to a self-funded firm, HubHaus was simply discovering footing when the coronavirus pandemic arrived within the United States, drastically hurting the rental market (as proven by Airbnb’s public struggles, as nicely). The housing firm ultimately determined to shut down in September, leaving landlords, members and distributors in limbo and bringing on a contemporary sweep of critique and controversy. Affordable housing continues to be a problem within the Bay Area, and HubHaus’s departure from the scene underscores this reality. Hipmunk (2010-2020) Image Credits: Hipmunk Hipmunk, based by Adam J. Goldstein and Reddit co-founder Steve Huffman, was one of many first journey aggregation platforms available on the market. The firm put collectively info on flights, accommodations and automobile rental all into one place so shoppers might examine and distinction costs with ease. The focus was sufficient for the platform to get acquired by Concur, however now after 4 years, the journey startup shut down. Notably, the journey startup’s closure wasn’t essentially tied to the coronavirus pandemic. The website formally went darkish on January 23, months earlier than lockdowns got here to the United States. IfOnly (2012-2020) Photo: Thomas Barwick/Getty Images IfOnly had created a marketplaces of unique occasions — similar to “goat yoga” — a enterprise that confronted apparent challenges through the pandemic. The startup was truly acquired by one among its traders, Mastercard, late final yr, however the acquisition wasn’t introduced till IfOnly revealed over the summer season that it was shutting down. Mastercard additionally mentioned IfOnly’s workforce and know-how are nonetheless a part of its Priceless expertise market: “The IfOnly platform will proceed to assist advance our Priceless technique and our mixed workforce will likely be even higher positioned and geared up to ship unique experiences for cardholders globally.” Mixer/Beam Interactive (2014-2020) Image Credits: Microsoft Microsoft shut down its Twitch competitor Mixer this yr, handing off its partnerships to Facebook Gaming. The service had its roots within the software program big’s acquisition of Beam Interactive shortly after the startup gained TechCrunch’s Startup Battlefield in 2016. Before giving up, Microsoft made some huge investments in Mixer’s success, most notably signing streaming superstars Ninja and Shroud to unique offers. (They turned free brokers after the shutdown.) However, Microsoft’s gaming chief Phil Spencer mentioned the corporate suffered from beginning out “fairly far behind” the largest gamers within the streaming market. The Outline (2016-2020) Image Credits: The Outline Despite a busy yr of innovation and enterprise for information media platforms, The Outline, which branded itself as “the subsequent era model of the New Yorker” was shut down. The media website was began by Josh Topolsky and had an specific give attention to serving millennials with a digital-first information media model. The shutdown was a part of a broader layoffs at Bustle Digital Group, which acquired the publication in 2019. Pre-acquisition, The Outline had already scaled again its editorial workers and refocused on freelance articles. (Input — a tech website that Topolsky based for BDG — continues to publish.) Periscope (2015-2020) Periscope went out with extra of a whimper than a bang. The startup was acquired by Twitter earlier than it had even launched a product. With Meerkat bursting on the scene that yr at SXSW, Twitter went on the offensive, shopping for the startup to construct out its personal stay video providing. Periscope’s run was respectable so far as these items go, and its know-how will stay on as a part of Twitter’s video choices, even after the app is formally discontinued subsequent March. But ultimately, Periscope was a shell of its former self. In truth, this can be a uncommon occasion the place the pandemic could have truly delayed its shutdown. The firm notes, “We most likely would have made this determination sooner if it weren’t for all the initiatives we reprioritized because of the occasions of 2020.” PicoBrew (2010-2020) Image Credits: PicoBrew The firm made beer-brewing machines that used espresso pod-style PicoPaks, then expanded into different classes like espresso and tea, however by no means fairly attracted sufficient prospects to make the enterprise viable. It offered its belongings earlier this yr to PB Funding Group — a bunch of lenders recruited by then-CEO Bill Mitchell in 2018 to maintain it afloat. It’s potential that PicoBrew will stay on in some kind, as PB Funding Group says it’s in search of patrons for the corporate’s patents and different mental property, and that it’s going to hold the web site operating within the brief time period in order that the machines don’t cease working. Quibi (2018-2020) Total Raised: $1.75 billion Quibi CEO Meg Whitman speaks concerning the short-form video streaming service for cell Quibi throughout a keynote tackle January 8, 2020 on the 2020 Consumer Electronics Show (CES) in Las Vegas, Nevada. (Photo by ROBYN BECK/AFP through Getty Images) More so than any tech firm in current reminiscence (with the potential exception of Theranos), Quibi’s existence seems like a fever dream. $1.75 billion in funding later and what do now we have to indicate for it? “Fierce Queens,” a nature documentary about feminine animals. The HGTV-style program, “Murder House Flip.” And, after all, “The Shape of Pasta.” A present about pasta. Early stories of the service’s demise appeared untimely — if solely as a result of there was seemingly no approach an organization might burn via that a lot capital that shortly. By late-October, nevertheless, it was over. “All that’s left now’s to supply a profound apology for disappointing you and, in the end, for letting you down,” founders Jeffrey Katzenberg and Meg Whitman wrote in an open letter. Sometimes startup failures are dangerous timing. Sometimes it’s simply plain dangerous luck. With Quibi, the diagnoses of what went flawed could be summed up in a single phrase: the whole lot. Rubica (2016-2020) Image Credits: Rubica Rubica spun out of safety firm Concentric Advisors with the goal of providing instruments that have been extra superior than antivirus software program, whereas nonetheless remaining accessible to people and small companies. CEO and co-founder Frances Dewing mentioned that when prospects in the reduction of on spending through the pandemic, the corporate tried to shift its focus to bigger enterprise, but it surely did not persuade traders there was a enterprise there. ScaleFactor (2014-2020) Total Raised: $104 million Businessman’s fingers with calculator and value on the workplace and Financial knowledge analyzing relying on wooden desk. Image Credits: Sarinya Pinngam/EyeEm / Getty Images ScaleFactor was a startup claiming to supply synthetic intelligence instruments that might exchange accountants for small companies; it blamed the pandemic for chopping its income in half and forcing the corporate to close down. However, former workers and prospects instructed Forbes a distinct story — that ScaleFactor truly relied on human accountants (together with an outsourced workforce within the Philippines) to do the work. While it’s hardly unprecedented for a startup to fudge the reality about their degree of automation versus human labor, this reportedly resulted in error-filled accounting for ScaleFactor shoppers. (Responding to a fact-checking e mail, former CEO Kurt Rathmann mentioned the e-mail was “stuffed with quite a few factual inaccuracies and misrepresentation” and declined to remark additional.) Starsky Robotics (2015-2020) Total Raised: $20 million Self-driving vans startup Starksy Robotics started with this primary, and problematic truck. Image Credits: Starsky Robotics “In 2019, our truck turned the primary fully-unmanned truck to drive on a stay freeway,” Starsky Robotics co-founder and CEO Stefan Seltz-Axmacher wrote in a Medium submit in March. “And in 2020, we’re shutting down.” After 5 years and $20 million in funding, the autonomous trucking firm shut its doorways that month. It wasn’t for lack of ambition or demand — it appears protected to imagine there’s nonetheless a brilliant future for self-driving vans. Ultimately, nevertheless, Starsky gained’t be alongside for that experience — a truth Seltz-Axmacher blames largely on timing. A crowded market is actually at play, as nicely, with numerous firms presently pushing to deliver autonomous know-how to the street. Stockwell/Bodega (2018-2020) Image Credits: Bryce Durbin Founded in 2018 by ex-Googlers, Stockwell AI shut down after being unable to seek out enterprise for its in-building good merchandising machines that stocked the whole lot from condoms to La Croix. The firm blamed the “present panorama” (also referred to as the worldwide pandemic we’re experiencing) for its closure. Stockwell AI, previously often known as Bodega, was well-funded and well-known, with greater than $45 million in funding from traders that included NEA, GV, DCM Ventures, Forerunner, First Round and Homebrew. Still, even enterprise capital couldn’t make merchandising machines work nicely sufficient. Trover (2011-2020) Image Credits: Trover Another travel-focused startup bites the mud because the coronavirus limits the possibility to securely discover the world (not to mention your neighborhood). Trover, a photo-sharing hub for vacationers acquired by Expedia, shut down in August. The startup was based by Rich Barton and Jason Karas and was meant to attach folks travelling to the identical locations. The startup had fairly the life: it started out of the stays of TravelPost, a journey overview website, and acquired scooped up by its father or mother firm when it solely had $2.5 million in funding. Unfortunately, its nine-year journey is over for now. Remembering the startups we misplaced in 2019 Remembering the startups we misplaced in 2018 EditorialTeam

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Expert Collections containing Stockwell

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Stockwell is included in 6 Expert Collections, including CPG & Retail Innovation.

C

CPG & Retail Innovation

255 items

AI, proximity marketing, product discovery, and more for CPG brands.

I

In-Store Retail Tech

1,343 items

Startups aiming to work with retailers to improve brick-and-mortar retail operations.

G

Grocery Retail Tech

300 items

Startups providing B2B solutions to grocery businesses to improve their store and omni-channel performance. Includes customer analytics platforms, in-store robots, predictive inventory management systems, online enablement for grocers and consumables retailers, and more.

C

Cashier-Free / Cashless Retail

155 items

Companies offering automated checkout solutions for retailers or operating cashless, cashier-free retail stores.

N

New Retail Formats

363 items

Tech-enabled, physical retail selling formats that reach beyond the walls of a traditional store.

A

Artificial Intelligence

7,895 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

Stockwell Patents

Stockwell has filed 2 patents.

The 3 most popular patent topics include:

  • Banking technology
  • Biometrics
  • Customer experience
patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/29/2017

7/20/2021

Payment systems, Customer experience, Retailing, Biometrics, Banking technology

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Application Date

11/29/2017

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Grant Date

7/20/2021

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Related Topics

Payment systems, Customer experience, Retailing, Biometrics, Banking technology

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