UK-Version of Etsy, StreetHub, raises USD2.6M, launches New E-Commerce Site

StreetHub, a startup that helps market independent boutiques and shops get discovered and sell online, recently raised USD2.6 million in funding. TechCrunch said that the funding round was led by the UK-startup’s previous backer, Octopus Ventures, and was participated by former backer Index Ventures, new investor Playfair Capital, and other angel investors. Overall, StreetHub has received USD3.8 million in funding.

Along with StreetHub’s funding round announcement was the company’s launch of Trouva, a new e-commerce site aims to showcase the wares of its independent store network, the Evening Standard said. Like Etsy, Trouva employs a handful of curators who will choose unique items to showcase in the site, supposedly "antidote to chain-dominated, identikit high streets and busy, hard to navigate websites".

StreetHub co-founder Mandeep Singh said in a statement, “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. 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. Trouva is the logical next step for us in our mission to help our amazing independent retailers to reach an even wider audience and help more customers to discover these inspiring, individual collections of products.”