Manchester-based DigitalBridge has raised £3 million to support the roll-out of its “guided design” platform for kitchens and bathrooms and will create 15 new jobs.
The funding round was led by Maven Capital Partners and comprises a £1.5m package from Maven’s Venture Capital Trusts and £1.5m from the NPIF Maven Equity Finance.
The money will also enable the company to create additional products and penetrate new markets, particularly the United States. DigitalBridge has been working with Kingfisher PLC, owners of B&Q and Castorama, since 2017.
David Levine, CEO at DigitalBridge, said: “We’re excited to partner with Maven to drive DigitalBridge to the next level. In addition to the European retailers we are working with, this investment supports our growth into the US market and allows us to deliver on the opportunities we’re already working on.
“Consumer buying behaviour has fundamentally changed, especially online as e-commerce now accounts for 15 percent of all retail purchases, according to Mary Meeker’s Future of the Internet.
“People are doing most of their research online and are being inspired by what they see. Bathrooms and kitchens still require a lot of face-to-face time and store visits, however, so DigitalBridge uses AI and Computer vision to guide consumers through the complex and confusing journey of designing their dream bathroom or kitchen.”
DigitalBridge technology guides consumers through the process of creating a bathroom or kitchen, from concept to completion. It integrates directly into a retailer’s website and uses AI and Computer Vision technology.
Products from the retailer’s catalogue that fit the customer’s brief are then recommended. DigitalBridge has already supported more than 800,000 customer projects.
