Amazon secretly acquires UK-based tech startup Veeqo, an inventory and shipping platform for eCommerce businesses

Amazon has acquired Veeqo, a UK-based tech startup that makes inventory and fulfillment tools to help online businesses sell products on and off Amazon. The retail giant quietly acquired the e-commerce software startup back in November 2021 but didn’t publicize the acquisition.

Veeqo and Octopus Ventures, an investor in Veeqo, confirmed the deal in a blog post today. The total amount of the deal was not disclosed. The acquisition will enable Amazon to integrate more robust tools for sellers into its Multi-Channel Fulfillment program, and potentially lure them away from other third-party logistics providers.

Commenting on the acquisition, Richard Bolton of Octopus Ventures said, “When we first encountered Veeqo, we were immediately impressed by the dynamic combination of a mission-driven team, led by founder Matt Warren, and a brilliant product. In March of 2019, we led a £3.3 million growth investment in the company. A year later and the world looked altogether different as the Covid-19 pandemic changed everything.”

Founded in 2013 by Matthew Warren, Veeqo provides an all-in-one platform for retailers to save time. Veeqo uses shipping integrations to process orders instantly and automatically sync inventory across all sales channels.

The Swansea, Wales-based startup provides software that helps retailers manage their online businesses across e-commerce platforms, including Amazon, eBay, Shopify, and Walmart, ranging from order shipping and returns to keeping track of what products are in stock. The company employs roughly 60 people, according to its LinkedIn profile.

To date, Amazon is estimated to control about 40% of the US e-commerce sales. However, there’s still a large chunk of online purchasing that’s dominated by other smaller e-commerce companies. This acquisition will help Amazon increase its share of sales on other platforms like eBay, Etsy, Shopify, and Walmart.

“We look forward to discovering all the ways we can work with Amazon to build on our existing tools, develop new services and, ultimately, serve you better,” Veeqo wrote.

An Amazon spokeswoman confirmed the acquisition. The spokeswoman declined to disclose the terms of the deal.

“We’re excited Veeqo has joined Amazon,” the spokeswoman said. “We plan to continue investing in new features and improvements to help Veeqo serve sellers globally from its home in Wales, facilitate growth for sellers’ multi-channel businesses, and enhance the experience of their customers.”