John Lewis among investors as Manchester startup secures £700,000 funding round
A computer vision startup that lets consumers “try on” any home décor product in their own home has secured a six-figure investment in its latest funding round.
Manchester based DigitalBridge received more than £700,000 from a number of private investors, ahead of a planned launch with a number of home decor and DIY retailers.
The largest fund came from Stuart Marks, founder of the early stage investor and corporate innovation specialist L Marks, who has invested £350,000 in the technology start-up.
High street giant John Lewis has also invested £100,000 after DigitalBridge was named partners’ choice at the retailer’s JLAB accelerator programme.
The investment comes as an independent report, commissioned by DigitalBridge, which revealed that virtual and augmented reality platforms had the potential to add £1bn to the UK’s retail market.
DigitalBridge CEO David Levine (pictured above) said the investment will be used to bolster the business's development team and improve its UX.
He said: “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.”
Investor Stuart Marks added: “DigitalBridge is a truly innovative company, providing consumers with the ‘undo button’ for home décor they have been calling for and L Marks are very proud to offer our expertise and support."