Octopus Ventures exits Zynstra
Octopus Ventures, part of Octopus Group and one of the largest VCs in Europe, has exited its investment in Zynstra, the leading provider of store virtualisation technology for retailers.
Zynstra has been acquired by NCR, a global enterprise technology company for the retail, hospitality and banking industries for approximately £100 million. NCR is listed on the New York Stock Exchange with a market cap of more than $4 billion.
Octopus Ventures first invested in Zynstra in 2013, participating in the company’s seed round and has participated in all subsequent funding rounds. Zynstra has developed a pioneering intelligent software infrastructure for enterprises and retail stores to virtualise back and front office technology including traditional and next generation Point-of-Sale (POS).
Jo Oliver, Partner at Octopus Ventures, said:
“This sale is a huge testament to the innovation, determination and resilience of Nick and the entire Zynstra team and a demonstration of their strategic value in retail today. It’s been a great pleasure being part of the Zynstra successful journey over the last six years and we wish them all the very best for their future with NCR.”
Nick East, Co-founder and CEO of Zynstra, commented:
“Octopus Ventures has played an incredibly important role in the growth of Zynstra, and we are hugely grateful for their partnership and advice as we have developed and expanded the business.
At Zynstra, we’ve built a world-class capability that we know can make a significant difference for our clients.
“When we started to work with NCR, we realised that our combined strengths made for an unmatched service, with a global reach – the combination makes sense for Zynstra and our stakeholders. I’m personally very excited about what it means for the team and our customers and am looking forward to leading the acceleration of our vision for the market as part of NCR.”
For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. We do not offer investment or tax advice. Issued by Octopus Investments. Octopus Ventures is part of Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. Issued: December 2019.