Intent Technologies secures £2.5m in seed funding led by Lightbank to fuel international expansion.
The seed round was led by Lightbank with participation from notable angel investors.
Intent Technologies operates Basket, a shopping application and browser extension that combines items from multiple retailers into a single universal wish list. The platform provides automated price drop alerts and product insights for consumers and brands.
Intent Technologies has secured £2.5m in a seed funding round led by Lightbank. The capital will support the company as it scales operations into international markets and develops new features for retail partners.
The oversubscribed round draws backing from prominent angel investors and entrepreneurs, including Dan Cobley, Justine Roberts, Rob Small, Harry Hugo, and Jonathan Quinn. The financing also incorporates a £250k prize awarded earlier this year through a pitch competition hosted by Crowdcube and James Watt.
Launched recently, the company's universal shopping tool has gained rapid traction among consumers seeking to manage wish lists and track price drops across thousands of online retailers.
From the founder
"Basket is the ultimate shopping sidekick for every online shopper. We’ve embedded ourselves into the online shopping experience to create a seamless and habitual journey for shoppers. The squeeze felt from the cost-of-living along with a cookieless future on the horizon, retailers will need to rely on the right technology to avoid a dip in personalisation, or access to critical purchase and behavioural data. Basket’s 10x average user retention numbers are no accident because we enable consumers to shop smarter, not harder."
Lex Deak
CEO and co-founder at Intent Technologies
Investor perspective
"We only partner with talented teams that can move fast and scale quickly, and Basket is no exception. Basket’s world class product, built by their exceptional and cherry-picked team, will capture the attention of shoppers across the globe and solve the biggest challenges faced by retailers. We are very excited to invest in the UK’s next unicorn, who are shaking up the online shopping experience"
Matt Sacks
Co-Managing Partner, Lightbank
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Invest in sales and marketing
Investors
Categories
About the company
Intent Technologies
Intent Technologies provides a universal shopping cart and wish list application for online consumers.