Swap Commerce, an e-commerce startup specializing in AI-powered storefront solutions, announced Wednesday it has raised $100 million in new funding. The round comes just six months after the London- and New York-based company secured a $40 million Series B round led by Iconiq Capital.

DST Global and Iconiq Capital are the prominent VC firms backing Swap Commerce. Founded in 2022, the company provides a platform designed to assist brands in building web storefronts and managing various aspects of e-commerce operations. These include cross-border transactions, inventory management, and returns processing.

Swap Commerce's platform utilizes artificial intelligence to streamline e-commerce processes. The company's focus is on enabling brands, particularly those in the luxury clothing sector, to expand their global reach. The platform is engineered to handle the complexities of international sales, offering tools for currency conversion, localized payment options, and compliance with international regulations.

The company declined to comment on its latest valuation.

The rapid influx of capital from DST Global and Iconiq signals strong investor confidence in Swap Commerce's potential. However, the company operates in a competitive landscape, facing established players like Shopify. Swap Commerce differentiates itself through its AI-driven approach and focus on cross-border capabilities, aiming to provide a more tailored solution for brands with global ambitions.

While Swap Commerce has gained traction in the luxury clothing market, the company's technology is applicable to a broader range of e-commerce businesses. The platform's modular design allows for customization, enabling brands to adapt the system to their specific needs and integrate with existing infrastructure.

The new funding will be used to further develop the platform's AI capabilities, expand its global infrastructure, and scale its sales and marketing efforts. Swap Commerce aims to solidify its position as a leading provider of cross-border e-commerce solutions, challenging established players in the market.