Seed12 November 2020

Product Guru secures £330k in seed funding from Scotmid Coop, Techstart VC, and Scottish Enterprise to expand its retail discovery platform.

The seed round was backed by Scotmid Coop, Techstart VC, and Scottish Enterprise to fund platform development and recruitment.

£330KSeed

Product Guru operates an online discovery platform that connects fast-moving consumer goods suppliers with high street retailers. The company provides software designed to streamline product sourcing and streamline the buying process.

Product Guru has raised £330k in a seed funding round backed by Scotmid Coop, Techstart VC, and Scottish Enterprise. The capital will be used to recruit senior engineering talent and support the rollout of a premium subscription service for suppliers next year.

The raise follows a period of expansion for the retail technology firm, which has seen increased platform sign-ups and workforce growth during the pandemic. The company plans to use the funds to further develop its platform features, including hosting regular virtual buying sessions following the success of its recent event.

From the founder

"2020 sent shockwaves through the high street, and nothing will ever be the same. Having worked in retail for 20 years, this has made me even more ambitious with our plans for growth over the next 18 months."

Simon Coyle

CEO at Product Guru

Investor perspective

"Small and challenger brands punch well above their weight in markets that have traditionally been led by large corporations. Through consistent reinvention, innovation and a focus on the customer, we have seen unprecedented levels of growth among these brands. In attempting to capture a portion of this, retailers face challenges in both product discovery and workflow management. Product Guru is a very elegant solution that sits at the heart of this marketplace challenge. We are delighted to be backing the team and joining them on this journey."