U.K.-based startup StreetHub is launching its own eCommerce site, Trouva, with $2.6 million in fresh funding under its belt.
The launch marks a shift in StreetHub’s business from online-to-offline sales aimed at driving brick-and-mortar foot traffic to an eCommerce business model.
Trouva has been set up to provide eRetail space for boutique stores and curators who “handpick unique gift, fashion and homeware items only found in independent shops” in London, Brighton and the rest of the U.K., the company said. Many of these exist within StreetHub’s current network of 350 independent stores.
Trouva is a logical next step for StreetHub, which will help its network of independent retailers widen their audience, the company said. StreetHub is also enabling worldwide shipping and one-hour delivery in select areas through Shutl for all items available on Trouva.
The latest round of investment brings StreetHub’s total investment to $3.8 million. It was led by one of StreetHub’s previous investors, Octopus Ventures, along with Playfair Capital and Index Ventures, which has also led investments in Farfetch, Net-a-Porter and ASOS.
In a statement, the company said the investment will be used to support the launch and promotion of its new brand and Trouva website, as well as to build out the StreetHub platform.
“We’ve seen huge success with our iPhone app launch last year, with over 40,000 customers using the app to discover and purchase from independent shops in their local vicinity,” said Mandeep Singh, cofounder of StreetHub. “This is how we identified the compelling opportunity to also serve people who are keen to discover shops which are a little further afield, too, and offer worldwide shipping.”
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