The deal was managed by Peter Carway and Louise Chapman from the Praetura Ventures investment team. Sparkbox enables retailers to forecast demand, optimise pricing and reduce waste by preventing retailers from over ordering stock. Praetura Ventures has invested £1.5m into a Manchester-based start-up that uses AI to help big brand merchandising teams from the likes of River Island and make better stock buying and pricing decisions. Praetura Ventures invests £1.5m into Sparkbox Love Ventures led the round with its fintech advisor John Lunn. By using the business verification platform, companies can search and locate business credit, corporate and director information from around the globe in seconds. This follows a previous funding round that banked £2m. Additional investors included Entrepreneur First, Ventures Together and angel investors.ĭetected, a resource which finds and verifies any registered company in the world instantly, has raised an additional £1.5m in just three weeks. Nosso offers children’s investment accounts that whole families can access. Nosso banks £2.1m seed round for children’s savingsįamily finance app Nosso has raised a $2.8m (£2.1m) seed round co-led by Octopus Ventures and Anthemis Group. Octopus Ventures led the round with participation from Deeptech Labs and Cambridge Enterprise. The software helps engineers identify early warning signs from extreme weather events, for example, so they can make timely, cost-effective and safe decisions. BKwai receives £2.2m in seed fundingīKwai, a construction data company which helps engineers from the likes of Thames Tideway and Highways England develop sustainably built infrastructure, has received £2.2m in seed funding.īKwai’s software platform combines data from multiple sources (like on-site sensors, environmental and satellite data) to provide a holistic view of a construction and its surrounding environment. To date, Solivus has raised £5m in funding. Solivus is already being installed at Cotswold Airport, where its solar panels will power a new generation of hydrogen-electric aircraft. With energy prices skyrocketing, Solivus is developing ground-breaking ultra-thin solar film that could be wrapped around the flat roofs of warehouses, stadiums and large offices, which it claims could generate half the UK’s electricity. Solivus, a pioneer of “skin-like” solar panels, has raised £2.4m investment led by Founders Factory and G-Force and supported by Crowdcube investors. “Enriching cultural experiences” was the surprising answer – while “room design” scored lowest. With experiences starting at £118,000 per person, The Luminaire offers experiences with luminaries including explorer Sir Ranulph Fiennes and photographer Sir Don McCullin.ĭeveloping the concept, The Luminaire surveyed wealthy travellers with a combined net worth of $4.4bn to discover what they wanted most from travel. The Luminaire, a new type of luxury travel brand which offers cultural experiences to sophisticated travellers, has raised $3.7m (£2.8m) through US early-stage investors whose previous investments include. “I’m looking forward to working with the team and sharing some of the lessons I’ve learnt from my time at Apple and the other tech businesses I’ve been lucky to work closely with over the years.The Luminaire books £2.8m for luxury travel concept “We know how much potential there is for AI and machine learning to improve profits and reduce waste in retail, and we are thrilled to have Prateura join us on our mission to modernise merchandising and put data behind the important pricing and inventory decisions our users make every day.”Ĭolin Greene, Operational Partner at Praetura Ventures, comments: “Sparkbox’s approach to inventory optimisation has the power to bring about massive changes in fashion and home retail, which is clearly behind the times when it comes to technology adoption within merchandising.” The company was co-founded by Forbes 30 Under 30 inductees Lindsay Fisher and Matthew Wong, and Kevin Blackmore, who prior to Sparkbox was VP of Customer Insights at Best Buy and a retail analytics partner at Accenture.įisher says: “As a team of former retailers, we’ve seen first hand how the retail industry is advancing in many areas but falling behind when it comes to making data-driven decisions.” It will use Praetura Ventures’ investment to double its team and onboard further fashion, home and seasonal retailers. Launched in 2019, Sparkbox works with the likes of River Island and MATCHESFASHION, enabling them to forecast demand, optimise their pricing and promotions and plan inventory to reduce waste and the need for big discounts. Praetura Ventures has invested £1.5 million into Sparkbox, a UK-based startup that uses AI and data to help retailers’ merchandising teams make better stock buying and pricing decisions.
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