KYKLO Gets $8 Million in Seed Money to Build E- Biz Solutions

KYKLO focuses on providing smaller distributors an affordable online storefront and content management solution.
Nov. 20, 2020
2 min read
Remi Ducrocq, Kyklo's founder and CEO saw distributors' challenges with e-commerce up close and personal during his time with Schneider Electric.
Remi Ducrocq, Kyklo's founder and CEO saw distributors' challenges with e-commerce up close and personal during his time with Schneider Electric.

As COVID-19 accelerates the need for digital operations, KYKLO, Buffalo, NY, an e-commerce and sales management company, recently got funding in an $8.5-million seed round to bring electrical and automation businesses online. According to a KYKLO press release, the financing was arranged by Felicis Venturess and IA Ventures and had support from other strategic angels, as well as institutional investors including Jungle Ventures, Wavemaker partners and Seedplus. This seed round of funding brings KYKLO’s total funding to $10.2 million.

KYKLO’s SEO-optimized, e-commerce platform digitizes operations and manages content and online storefronts. Its catalog has more than 2.5 million SKUs. The company currently has 35-plus distributors as customers. Manufacturers such as Schneider Electric, WAGO, Festo US and Mitsubishi Electric Automation have endorsed KYKLO as a preferred e-commerce provider for their channel partners, and KYKLO is a strategic partner of the Association for High Technology Distribution (AHTD).

“With 80% of the $640-billion electrical, industrial and automation distribution industry still relying on PDF catalogs and phone and emails for their operations, distributors face a challenge in the market,” said Sundeep Peechu, managing director and founding member at Felicis, in the press release. “KYKLO’s platform helps these companies keep pace with crucial industry needs and reassess how digital tools can transform their sales force.”

“Having spent my whole career in the manufacturing and industrial space, I experienced the pain points of this pen-and-paper industry first hand,” said Rémi Ducrocq, KYKLO’s co-founder and CEO (left in above photo), in the press release. “I started KYKLO because I felt compelled to bring these industries online. Digital technology is here to transform not only how technical buyers select and buy, but also how distributors’ sales forces sell more effectively, especially in a post-COVID-19 era.”