UK retail technology start-up NearSt has raised £2 million in funding, with property giant Grosvenor among its investors. This brings NearSt’s total funding to £5 million and will be used to drive footfall in physical stores during a critical time for retailers. Other investors in the funding round include True Global, YYX Capital, and Moscar Capital.

NearSt’s innovative technology allows shoppers to easily locate local products, taking advantage of the rising demand for local shopping brought about by changes in consumer behavior during the pandemic. Luxury boutiques like Creed, Christopher Kane, and Hirsh have already benefited from this technology.

Grosvenor, making its first direct investment in the tech sector, plans to utilize NearSt’s technology in its Mayfair and Belgravia estate, with future plans for international expansion. The company aims to enhance the physical shopping experience and encourage customers to support their local high streets.

NearSt firmly believes that online shopping will not lead to the demise of brick-and-mortar stores, but rather serve as a foundation for a thriving and healthy future. By bridging the gap between online and offline shopping, they aim to create a seamless experience for consumers.

This latest funding round and the partnership with Grosvenor demonstrate the increasing recognition and support for NearSt’s innovative approach to boosting footfall in physical stores.

[Link 1: NearSt Official Website](

[Link 2: Grosvenor Official Website](