London Daily

Focus on the big picture.

Shopping space start-up draws £1.5m to solve Sticky problem

Shopping space start-up draws £1.5m to solve Sticky problem

The Manchester-based technology company, which helps companies exploit underused physical space, has raised £1.5m from investors led by Praetura Ventures.
A British technology start-up which enables retailers to transform more of their physical space into points of sale has secured £1.5m to fund its expansion.

Sky News understands that Sticky, which counts the burger chain Byron among its clients, has attracted backing from new investors Praetura Ventures and Cornerstone VC.

Sticky uses its own operating system with NFC, or near-field communication, technology to enable companies in sectors such as retail, hospitality and health and fitness to process payment transactions in less than 10 seconds.

The company provides branded stickers to its customers, which have so far generated more than 1m consumer interactions, according to the company.

One industry source described Sticky's technology as "revolutionary".

Its emergence comes as retailers grapple with large volumes of unprofitable space, particularly in the aftermath of the pandemic.

One estimate suggests there is 150m square feet of unused retail space in the UK.

Scores of major retailers and casual dining chains - including Byron - have been forced into insolvency or complex financial restructurings which have triggered thousands of store closures and job losses.

Research cited by Sticky found that over 40% of consumers were willing to pay more for products they could buy quickly and conveniently, a statistic it hopes will encourage rapid take-up of its product.

Based in Manchester, the company was founded by Priscilla Israel and James Garner, two entrepreneurs, in 2020.

"We help our customers see their physical space as an asset and as a way to make more money," Ms Israel said.

"The future of physical spaces is well debated but at Sticky there is no debate about their future or value - they are where we all live and work."

Sticky's funding round also includes follow-on funding from SFC Capital, an existing investor.

David Foreman, managing partner at Praetura Ventures, which led the funding round, said: "Sticky has taken a visionary approach to the problem of unused retail space and online engagement in offline environments, and that is what attracted us to invest in the business."

Related Articles

London Daily
Russia's Electronic Warfare Neutralizes Western Weapons in Ukraine
Trump Challenges Biden to Debate and Golf Match
Macron Accuses Israeli Minister of Election Interference
US Senator Highlights Weaknesses in Western Military Industry During Ukraine Conflict
George Clooney Urges Biden to Withdraw from Presidential Race
Political Shift in the UK: A Detailed Analysis of Labour's Victory and Future Prospects
Viktor Orbán's Peace Mission: A Diplomatic Controversy in the EU
India Advocates Peace and Prosperity: PM Modi's Speech in Austria
New UK PM Keir Starmer Reaffirms Strong Support for Ukraine at NATO Summit
Spain PM Pedro Sanchez Denounces Double Standards on Gaza at NATO Summit
UK Police Arrest Suspect in Crossbow Attack After Three Women Killed
Sunita Williams Safe on ISS, to Address Earth on July 10
Biden Affirms Commitment To Presidential Race
France Faces Political Turmoil and Airport Strikes Ahead of Paris Olympics 2024
Putin Hosts PM Modi for a Private Meeting
TSMC: The Taiwanese Chip Giant Valued Over $1 Trillion
Boeing Pleads Guilty Over 737 MAX Crashes
2024 Predicted to Be World's Hottest Year
Iran's President-Elect Masoud Pezeshkian Reiterates Support for Hezbollah
White House Denies Biden Being Treated for Parkinson's Disease
Biden to Meet New UK Prime Minister Keir Starmer
Biden Insists on Continuing Presidential Race Amid Criticism
UK Defence Minister Pledges Enhanced Support to Ukraine
French Prime Minister Gabriel Attal Resigns After Election Setback
Macron Faces New Political Challenges Despite Election Relief
France's Far-Right Falls Short in Parliamentary Elections
Key Figures in France's Left-Wing New Popular Front Bloc
England Reaches Euro 2024 Semifinals After Penalty Shootout Win
Rishi Sunak Apologizes After Historic Tory Defeat
Voter Discontent in Recent UK and French Elections
Trump was recorded attacking Biden: "I kicked the old pile of shit"
Understanding the MRP Method in UK Elections
US Officials Resign Over Biden's Gaza Policy
First-Time Immigrant Voters Aim to Influence UK Elections 2024
Reform UK Receives Major Donations from Brexit Campaign Group
Tata Steel Strike Called Off, Paving the Way for Crucial Talks
Sir Keir Starmer's Acceptance of Substantial Gifts from UK Donors
New Zealand Introduces Law to Make Tech Giants Pay for News
NASA Astronauts Stranded in Space Due to Boeing's Starliner Issues
OpenAI and Microsoft Sued for Copyright Infringement
Starmer Vows to Renegotiate Brexit Deal Amid Far-Right Rise in France
Monster Hurricane Beryl Hits Caribbean as Category Five Storm
EU Charges Meta with Breaching Antitrust Rules
Biden's Debate Performance Unites Democrats and Republicans
Prison Officer Faces Court Over Inmate Sex Video
Jude Bellingham's Iconic Euro 2024 Goal: A Historic Moment for England
Campaigners Push for Emergency Uplift Visa for Palestinians Escaping Gaza Conflict
French Elections: Battle to Thwart Far-Right Takeover
Supreme Court Grants Trump Partial Immunity, Delays Trial
China Criticizes US Restrictions on AI Investments