Street trading app StreetDots bags £350,000 seed investment
Company that allows street traders to book daily pitches will use funding to expand from 30 spaces to 70
StreetDots, the street trading technology start-up featured in Tech Pitch, has closed £350,000 in seed funding from private Singapore fund B.O.H LLC.
Founded by Atholl Milton – founder of Bunny Chow – and Darren Callcott, StreetDot works with Landlords to open street trading pitches or ‘dots’ that can be booked daily by traders via an app.
Everything from rent to documentation and licensing is handled through the app, mitigating the hassle of paperwork and admin for both parties.
The finance will be used to expand StreetDot’s network from 30 spaces currently to 70 in the spring. It will also help target retail and restaurant brands and develop new features ahead of a £4.5m Series A early this year.
Milton said: “Street trading is one of the oldest ways of doing business, yet the last to be modernised. It’s hard to believe that in 2017 it is still very much a paper-based sector.
“StreetDots is changing this and has already transformed dormant space across the UK into vibrant street food hubs. We are looking forward to opening our network to other types of traders and redefining the retail landscape of our cities and beyond.”
Laksh Vaaman, head of B.O.H, commented: “Like our other investments, StreetDots is a true disruptor. It’s exciting to see how quickly it has gained buy-in from big name land partners, traders and consumers in such a short time. We look forward to helping them grow.”