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31. EDITD

The scientific, sartorial start-up keeping retailers informed on fashion hits and misses

Founders: Geoff Watts and Julia Fowler
Founded: January 2010
Website: www.editd.com

The great merit of social media is that businesses can interact more directly with their customers and discover, in real time, what they want and how they feel. Now EDITD is going one step further, by scouring millions of interactions to discover which items consumers really like – and, more importantly, what they’ll buy. Carefully monitoring retail sites to discover which stock sells, at what price and when’s the right time to discount, EDITD prevents its over 400 subscribed retailers, suppliers and fashion labels from wasting resources by stocking the wrong thing.

Winner of Seedcamp 2010, EDITD has since secured more than £1m in a seed funding round led by Index Ventures (investor in Net-A-Porter and ASOS). If those firms’ track records are anything to go buy, EDITD is one to watch.