Iona Star, the operator-managed venture capital fund, has invested in Zitcha, a retail media platform that helps retailers unlock the full commercial value of their first-party data.
The investment will be used by Zitcha to support its continued international growth and “pave the way for retail media to be cemented as a core revenue driver for retail businesses”.
Zitcha currently works with leading retailers including OfficeWorks, Bunnings, The Warehouse Group, Frasers Group, The Hut Group (THG), and Ocado.
“Retailers are increasingly recognising the strategic importance of owning and activating their first-party data,” said Troy Townsend, chief executive officer, at Zitcha. “Our mission is to provide the infrastructure that allows them to monetise today while building the foundations for more intelligent, automated retail experiences in the future.”
As AI becomes more integrated into retail, through intelligent recommendations, predictive merchandising, and eventually agentic AI-assisted shopping, the importance of structured, high-quality retail data will only increase. Retailers that have invested in unified data and media infrastructure will be significantly better positioned to adapt to this next wave.
“Zitcha has built a platform that addresses a significant market opportunity today in retail media, while also positioning retailers for the next phase of AI and data-driven commerce” said Mike Powell, partner, Iona Star.
“We believe the combination of strong execution, international expansion, and structural industry tailwinds makes this an exciting partnership for the future.”
In 2024 Zitcha secured A$15 million Series A funding, led by US investment firm VMG Partners, to accelerate growth in the booming North American retail media market. Australian venture capital business OIF Ventures, which raised Zitcha’s seed funding round in 2022, also invested in the Series A round.
