Basket, an innovative AI-powered shopping assistant, is in the process of crowdfunding £2 million to enhance its platform, which aims to redefine the online retail experience. The tech start-up has already garnered attention and investment from notable figures in the entrepreneurial world, including James Watt, the co-founder of BrewDog. This funding round marks a significant milestone for Basket as it endeavors to expand its services and increase its market presence.

The start-up recently secured £2.5 million in an oversubscribed seed funding round led by Lightbank Ventures. This latest funding will be allocated to broaden its operations internationally, develop much-anticipated product features, and forge stronger relationships with retailers and publishers. Notable investors in this round include Dan Cobley, Justine Roberts, Rob Small, and Harry Hugo. Also included in this funding was a £250,000 prize awarded during a competitive pitch contest run by BrewDog's James Watt and Crowdcube earlier this year. Watt lauded Basket's potential, claiming it could become "the next UK unicorn," highlighting its capacity to disrupt the global online shopping landscape.

Basket operates as a mobile app and browser extension that allows users to consolidate products from any online retailer into a single 'basket.' This feature significantly simplifies the shopping process, as users receive notifications about price drops for items they wish to track. Following its participation in Watt’s 'The Next Unicorn' initiative, Basket successfully attracted additional funding aimed at accelerating product development and expanding into new sectors. Reflecting on the company, Watt stated, “It’s difficult to find real innovation in tech and e-commerce, but Basket is something I would 100% use myself," suggesting a strong consumer application for the product both in the UK and globally.

As the online retail space becomes increasingly competitive, ventures like Basket are not just emerging but are also positioned as potential disruptors. The company’s ability to leverage advanced technology while addressing real consumer needs indicates a promising trajectory, especially as it continues to build and solidify its brand identity in the crowded e-commerce marketplace. The upcoming crowdfunding campaign is poised to boost its momentum, ensuring Basket is well-equipped for its ambitious growth plans.

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Source: Noah Wire Services