Manchester start-up bags £700,000 to let you virtually decorate your home
Recently featured in 'Tech Pitch', DigitalBridge has secured backing from L Marks' Stuart Marks for its tool which acts as 'undo button' for interior design
A start-up which has developed a unique tool to allow consumers to virtually redecorate any aspect of their home, from changing wall and floor coverings to adding and removing pieces of furniture, has closed a £700,000 funding round.
Stuart Marks, founder of corporate innovation agency L Marks, backed £350,000 in the DigitalBridge’s funding round alongside a number of private investors.
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Established in 2014 by David Levine and featured in our Tech Pitch Q&A, DigitalBridge uses augmented, virtual and mixed reality platforms to allow consumers to “try on” products from a retailer’s catalogue in their own homes.
Based at Manchester Science Park, the start-up says its technology has the potential to add £1bn to the UK’s retail market, particularly given recent research it conducted which found that a third of UK consumers walk away from potential purchases as they can’t imagine how a product will look in their home.
The investment comes as DigitalBridge gets ready to launch its tool with several home decor and DIY retailers.
Founder Levine has said the funding – following £100,000 investment from John Lewis in 2016 – will support new hires for the company’s business development team and will improve the platform:
“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; “Levine has put an exceptional team in place, which has been one of the key drivers in the business’ rapid growth in the last 12 months.
“The potential of this new platform is really starting to come to light among major retailers, both in the UK and across the world, and I have no doubt the business will continue its disruption of the retail sector.”
Find out more about DigitalBridge and how it plans to disrupt the retail industry here.