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

DST Global also participated in the latest funding round. Swap Commerce, founded in 2022, provides a platform designed to assist brands in building web storefronts and managing various aspects of e-commerce operations, including cross-border transactions, inventory management, and returns. The company declined to comment on its latest valuation.

Swap Commerce's platform utilizes artificial intelligence to streamline the complexities of online retail. The technology aims to simplify the process of creating and managing online stores, particularly for brands seeking to expand their global reach. The platform's features include tools for localizing product listings, managing international shipping logistics, and handling currency conversions. These capabilities are particularly attractive to luxury clothing brands, which constitute a significant portion of Swap Commerce's clientele.

The rapid influx of capital from prominent venture capital firms like DST Global and Iconiq underscores the growing interest in e-commerce infrastructure solutions. While Swap Commerce has quickly gained traction, it operates in a competitive landscape that includes established players like Shopify. Shopify provides a comprehensive suite of tools for businesses to create and manage online stores, processing payments, shipping, and marketing.

The funding will be used to further develop Swap Commerce's AI capabilities and expand its global presence, according to sources close to the company. The company aims to enhance its platform's ability to personalize the customer experience and optimize supply chain operations.