Manchester-based retail tech startup DigitalBridge raises £700,000Last updated on: February 7, 2017, Author: Staff
DigitalBridge, a home decor retail tech platform, has raised a £700,000 Seed round from a series of private investors.
Based in Manchester, the firm’s machine learning platform enables consumers to ‘try on’ home decor products and furniture in their own home.
Investors included Stuart Marks, founder of early-stage investor and corporate innovation firm L Marks, who contributed £350,000 to the round.
The retail tech startup also received backing from John Lewis, which invested £100,000 after DigitalBridge was named partners’ choice at the JLAB accelerator programme.
David Levine, CEO of DigitalBridge, commented: “More retailers are beginning to see the commercial benefit of implementing mixed reality platforms in their customer offering, particularly online, and the confidence shown by these latest investments is testament to that.
“As a business we have experienced significant growth in the last few months and are in the early stages of some major deals to bring this technology to market. Consumers have been calling for an ‘undo button’ for interior design for years, and thanks to new technology, retailers can now offer them one,” he added.
The firm says it will the funding to bolster its business development team and improve the platform’s user experience.
Stuart Marks, founder of L Marks, said: “David has put an exceptional team in place, which has been one of the key drivers in the business’ rapid growth in the last 12 months. The potential of this new platform is really starting to come to light among major retailers, both in the UK and across the world, and I have no doubt the business will continue its disruption of the retail sector.”
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