The wider Praetura team are excited to be backing another fantastic Northern tech business and providing more than money support to make Sparkbox a go-to solution for even more household brands.”
I’m looking forward to working with the team and sharing some of the lessons I’ve learnt from my time at Apple and the other tech businesses I’ve been lucky to work closely with over the years. “Sparkbox’s approach to inventory optimisation has the power to bring about massive changes in fashion and home retail, which is clearly behind the times when it comes to technology adoption within merchandising.
We know how much potential there is for AI and machine learning to improve profits and reduce waste in retail, and we are thrilled to have Prateura join us on our mission to modernise merchandising and put data behind the important pricing and inventory decisions our users make every day.”Ĭolin Greene, operational partner at Praetura Ventures, added: “As a team of former retailers, we’ve seen first-hand how the retail industry is advancing in many areas but falling behind when it comes to making data-driven decisions. Sparkbox’s co-founder, Lindsay Fisher, said: 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. The team started Sparkbox after seeing an opportunity to innovate in a sector that still relies heavily on spreadsheets, guess work and gut feelings to make important commercial decisions. The company was co-founded by Forbes 30 Under 30 inductees Lindsay Fisher and Matthew Wong, and Kevin Blackmore, who prior to Sparkbox was vice president of Customer Insights at Best Buy and a retail analytics partner at Accenture.Ĭollectively, the founding team has 50 years of global retail experience, including previous work with Arcadia and The Very Group. Sparkbox will use Praetura Ventures’ investment to double its team and onboard further fashion, home and seasonal retailers, where deadstock is a constant challenge across the board. Following success in Dunedin, MeatMail is expanding around the country, partnering with local meat and fruit and veggie suppliers in each area.In addition to protecting retailers from profit losses, Sparkbox’s approach to data also has the potential to aid brand sustainability goals by preventing retailers from over ordering stock, with wide reports that fashion alone is responsible for up to 10% of global carbon emissions. Last year he mentored tech start-ups participating in the Lightning Lab, a seed investment fund and intensive start-up accelerator programme that pushes elite teams of New Zealand tech entrepreneurs to make business idea fly within three months.ĭavid’s MeatMail business is an innovative 'fresh food to the door' delivery service for the digital age, with a growing base of loyal customers. He had a summer internship at Abano Healthcare Group Limited in Auckland, and also set up five companies and directed some high profile events during his university time. “Even the best idea with the best team will pale in comparison to some good solid market validation.”ĭavid graduated with Bachelors of Law and Commerce (Finance) in 2013.
#Sparkbox ventures trial
It provides portfolio companies with market, strategic and operational guidance as they move through international growth plans and get set up for subsequent funding rounds.Īs Venture Senior, David’s responsibilities include pre-investment community outreach and deal sourcing, through to investment governance and advisory, and the management of the 'Global from Day One' seed stage seed investment One of David’s best tips for entrepreneurs, as covered recently in NZ Entrepreneurs is to talk to potential customers, and build a trial product they are willing to part with cash for. Sparkbox invests in entrepreneurs with world-beating IP or internationally scalable digital technology, applying a 'global from day one' approach to investment and growth into international markets. Having recently stepped back from day-to-day management of the successful MeatMail business, David Booth is now a Venture Senior with Sparkbox Ventures, a leading seed and pre-seed stage Venture Capital investor. A former Audacious 2012 competition winner is making the most of the newly-established StartUp Space on the University of Otago campus.
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