Australian ecommerce startup Carted will shut down on October 22, four years after raising AUD$13 million (US$8.5 million) in seed funding.

Founded in 2021 by Holly Cardew and Mike Angell, the company built a universal commerce API to streamline online shopping before shifting focus to a wishlist app that alerted users when products went on sale or were restocked.

Carted, backed by investors including Blackbird, Grok Ventures, and Tidal Ventures, reduced its team from 14 to six in 2023 while developing its debut product.

The company cited current market conditions and long-term outlook as reasons for winding down, as it faced growing competition from ecommerce features on platforms like TikTok and Instagram.

🔗 Source: SmartCompany