Sparkbox secures SEIS investment from AI Seed to expand retail pricing platform
Southampton based Sparkbox has secured SEIS funding from London based AI Seed.
Sparkbox provides a cloud platform for retailers that optimises pricing to improve inventory turnover and profitability.
Southampton based retail technology startup Sparkbox has secured SEIS funding from London based venture capital firm AI Seed. The transaction was finalised in March with legal support from Jon Gill and Matthew Howells at TLT.
Founded in 2018 by four former retail executives, Sparkbox uses machine learning algorithms to analyse consumer response to price changes and deliver tailored pricing recommendations. The platform can be deployed within weeks and is designed to assist seasonal and fashion retailers.
With backing from AI Seed, the company plans to expand its team and customer relationships over the course of 2020.
Use of funds
- 01Grow the team
- 02Accelerate go-to-market
Investors
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About the company
Sparkbox
Sparkbox offers cloud pricing software that helps retailers sell inventory more profitably.