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"ShopLocket has announced the completion of a $1 million seed round that includes investment from Rho Canada Ventures and Peter Thiel.\r\n\r\nThe company said in a statement that it plans to remain in Toronto and use the funding to &amp;quot;expand its team and accelerate product development.&amp;quot;\r\n\r\nThiel's investment comes by way of Valar Ventures, which recently invested in business software firm ScriptRock. BDC Venture Capital, Relay Ventures, Extreme Venture Partners and a &amp;quot;handful&amp;quot; of private investors also joined in on the round.\r\n\r\nThe startup launched a beta version of its e-commerce solution roughly three months ago. It enables the creation of product widgets that can be embedded on websites and blogs. Pricing is a flat 2.5 percent fee per transaction on top of any additional processing fees from payment services like PayPal and Stripe.\r\n\r\n\r\n\r\nCo-founder and CEO Katherine Hague believes her company, a participant in the first round of the Extreme Startups accelerator in Toronto, will disrupt current digital shopping options.\r\n\r\n&amp;quot;E-commerce will no longer be reserved for marketplaces and storefronts. Instead products will find us; on blogs, websites, and in our newsfeeds -- just as naturally as the videos and photos we share today,&amp;quot; she said.\r\n\r\nConsidering that the company's splash page caught the eye of The Next Web's Harrison Weber back in April, ShopLocket is, at the very least, raising the bar for e-commerce design.\r\n\r\nImage via Flickr / oh_pretty_love"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/insider/2012/08/01/3-months-after-launch-e-commerce-startup-shoplocket-raises-1m-from-rho-canada-ventures-peter-thiel-and-more/>