Universal Basket wins corporate backed Future of Retail Challenge
- Universal Basket one click shopping … everywhere!
- Venturespring challenge, backed by IBM, Argos Home Retail Group, Iceland Foods and Unilever Foundry selects Universal Basket to receive access to £750,000 investment and business acceleration support worth £20,000.
(l-r) Victoria Alexis, Venturespring; Alison Say, IBM, David Devany, Iceland Foods; Marcus Greenwood, Universal Basket; Cassandra Harris, Venturespring; Jeremy Basset, Unilever Foundry
Marcus Greenwood, Universal Basket
Universal Basket, which makes the internet one single shop, has announced the winner of the Venturespring Future of Retail Challenge, which is backed by corporate partners IBM, Argos Home Retail Group, Iceland Foods and Unilever Foundry.
Universal Basket is a smartphone app which allows consumers to shop the web with a single account for shopping. Users can add products to their universal basket from any retailer and when they’re ready to pay, can checkout all at once with their pre-registered details. UB then automatically transmits the delivery and payment details to the retailer via its automation platform which fills in all of the fields on the retailer checkout. Because it doesn’t require retailer integration, UB is truly universal and can work with any e-commerce site.
Marcus Greenwood, Co-founder and CEO at Universal Basket comments; “Online shopping is a £60bn market today and we’re aiming to make online shopping experiences easier and shorter, removing barriers to complete transactions online. Because we’re retailer agnostic – meaning the app has zero integration with retailers, shoppers can benefit from Universal Basket no matter where they shop. We’re excited to have won the challenge and to work with major brands to help scale our business to become the defacto way people shop online.”
The growth of capital being invested in retail driven tech start-ups underlies how technology and the internet are radically changing the retail buying experience globally. The Venturespring challenge invited early and growth stage start-ups to create new technology solutions which could transform the retail sector across four categories: FMCG, personalised shopping, commerce and Internet of things (IoT). Universal Basket will receive access to £750,000 worth of investment, £20,000 business acceleration support and exposure for the start-up from Venturespring, the international venture development studio, and it’s venture capital ecosystem partners.
“By partnering with some of the biggest brands, our role is to find, incubate, scale and invest in start-ups that will transform key industries in the future. This challenge has surfaced a host of new and innovative ideas in the retail space. By working with industry leaders IBM, Argos, Iceland and Unilever Foundry and the likes of Innovate UK and Octopus Ventures, we’re excited to drive greater innovation and build commercially successful businesses,” says Cassandra Harris, Venturespring Founder and Managing Director.
Pitch day judging panel