“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.” “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,” explained Fisher. Sparkbox was founded by Lindsay Fisher, Matthew Wong and Kevin Blackmore, who prior to Sparkbox was vice president of Customer Insights at Best Buy and a retail analytics partner at Accenture. The wider Praetura team are excited to be backing another fantastic Northern tech business and providing more than money support to make Sparkbox a go-to solution for even more household brands.” Superpersonal is the AI company behind the world’s most advanced visual imagery, using the power of machine learning and neural networks to create. “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. Sparkbox is an SaaS AI platform helping retailers make the most of inventory they already own, offering on-demand price optimisation recommendations to reduce stock and improve profitability. “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,” he said. It will use the cash injection to double its team and target additional retailers.Ĭolin Greene, Operational Partner at Praetura Ventures and former Director of US Consumer Retail at Apple, will join the Sparkbox board: The company works with brands, including River Island, to help them make better stock buying and pricing decisions. Please visit our website (for more information.
Manchester-based artificial intelligence start-up, Sparkbox, has received a £1.5m investment from Praetura Ventures. Sparkbox Ventures is New Zealand’s leading early stage investor.
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