Startup Sook receives investment from Tobin Capital
Tobin Capital founder, Luke Tobin, has announced his investment in the pop-up marketplace Sook. Taking vacant retail spaces, Sook transforms them into adaptive ‘pop-up’ shops by installing modular digital fit-outs which can be rented by the hour.
Sook is the 6th company in which Tobin Capital has invested within the last 18 months, taking its portfolio to 15 brands. Alongside Sook, Tobin Captial invested this year in PSYKHE AI, the machine learning platform, and Tastily, the subscription meal delivery service.
Aiming to create a more sustainable high street, the offsite modular constructions which Sook creates typically produce 30% less CO2 compared to a traditional shop fit, with all units powered using 100% renewable energy providers.
Commenting on the investment, Luke Tobin said: “I am thrilled to have invested in the game-changing business Sook. At Tobin Capital, we are looking to expand our portfolio with like-minded, sustainable and forward-thinking brands. Sook is on a mission to revolutionise the high street by offering sustainable, digitally enabled popup spaces, making this an exciting venture to be part of.
“Sook is aiming to reduce the negative impact of the UK high street losses, removing the inefficiencies and cost of a traditional fit-out and allowing multiple occupiers to use the space throughout the day. At Tobin Capital, we are aiming to support e-commerce businesses in staying on top of the changing consumer demand, and I am thrilled to be a part of this journey.”
Sook recently won the Bricks and Mortar Innovation gong at the December 2022 RTIH Innovation Awards, with the judging panel stating:
“There aren’t many things more depressing than empty shops on a high street, especially when it’s at odds with the number of innovative SMEs desperate for a brick-and-mortar base to interact with customers.
“Sook realised this demand for physical space hadn’t gone away, it just needed to solve the disconnect between brands and landlords while making it quick, easy and cost-effective for those brands to create a bespoke space.”
