Praetura Ventures has invested GBP1.5 million into a Manchester-based start-up that uses AI and in-depth data to help big brand merchandising teams make better stock buying and pricing decisions.
Sparkbox’s solution, which is trusted by River Island and Matchesfashion.com, enables retailers to forecast demand, optimise their pricing and promotions and plan inventory to reduce waste and the need for big discounts.
Sparkbox will use Praetura Ventures’ investment to double its team and onboard further fashion, home and seasonal retailers, where deadstock is a constant challenge.
In line with Praetura Ventures’ commitment to providing more than money support to the businesses it backs, Colin Greene, an operational partner at the VC, who was formerly Apple’s director of US Consumer Retail, will also join Sparkbox’s board.
