LONDON, UK, 1st July, 2026 – Iona Star, the operator-managed venture capital fund dedicated to accelerating technology innovation at the intersection of artificial intelligence and data, is pleased to announce its investment in Zitcha, a rapidly growing 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.
Retail is one of the largest markets in the world, representing more than $30 trillion in annual global sales. In recent years, one of its most important structural shifts has been the rise of retail media networks (RMNs), enabling retailers to monetise their customer relationships, digital channels, and in-store environments as high-margin advertising platforms.
Founded in Melbourne in 2022, Zitcha has quickly expanded internationally and today works with leading retailers including OfficeWorks, Bunnings, The Warehouse Group, Frasers Group, The Hut Group (THG), and Ocado. Zitcha enables retailers to build and operate their own retail media networks across digital, mobile, social, and in-store channels. By leveraging proprietary product and customer data, retailers can deliver targeted brand campaigns with measurable performance, creating a powerful new revenue stream while enhancing customer relevance.
“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.”
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About Zitcha
Zitcha connects merchants and retail media to what sells. Purpose-built for retailers, Zitcha transforms the data merchants have trusted for decades into intelligence that informs and optimises onsite, offsite, and in-store media decisions. The platform enables retailers to orchestrate media planning, activation, and measurement while aligning advertising performance with commercial outcomes. Founded in 2021 by Troy Townsend and Jack Byrne, Zitcha operates across the United States, APAC, and EMEA. Learn more at zitcha.com.
About Iona Star
Iona Star is an operator-managed venture capital fund that invests in critical infrastructure for the AI era - data, intelligence, and the systems that connect them. Its founding partners draw on decades of commercial, management and investing experience in financial services, data architecture, and emerging technologies. Collectively, they are centred on enabling organisations to leverage AI productively, responsibly, and at scale. Learn more and connect at ionastar.com.
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