Benitago Group raises $325M and other NYC tech news – New York Business Journal – New York Business Journal

Benitago Group, an e-commerce brand incubator and aggregator, has secured $325 million in a Series A funding led by asset management firm CoVenture, with additional funding from HSBC UK. 
Following an initial $55 million raise in early 2021, the Series A brings the company’s total funding to $380 million. 
Benitago creates and acquires brands on e-retailer marketplaces such as Amazon. The company said it uses search trends and sentiment data to identify product categories projected to see heightened demand on these platforms. It then elects whether to build relevant product offerings in-house or engage in the strategic acquisition of an existing brand.
Founded in 2016 by Santiago Nestares and Benedict Dohmen, the company said it has developed 10 brands and over 300 products in-house. It also has acquired 10 brands.
Benitago said the additional funding will enable it to further build out its product development studio, scale its acquisition of Amazon brands and continue the expansion of its brand portfolio across various platforms and channels.
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