dunnhumby has announced it is launching a seed fund to invest in startups that will shape the future of shopping.
Their mission: "[To] serve as a support mechanism for innovators, helping to fund startup businesses that are embracing data for innovations along the consumer's path to purchase."
As a business that "[analyses] data and [applies] insights from more than 400 million customers across the globe to create better customer experiences and build loyalty," dunnhumby is well qualified to invest in shopping space startups.
The fund plans to invest between $100k and $500k per startup in around 30 startups over the next three years.
Heading up the fund is none other than Dave Balter, founder of BzzAgent (acquired by dunnhumby) and Smarterer, partner at Boston Seed Capital, mentor at TechStars, and individual investor and adviser to several area startups.
As a business that understands the consumer shopping experience well, with a team that includes entrepreneur and superstar Balter, it will be interesting to see which startups dunnhumby Ventures will fund, and how those businesses grow and evolve.
The company's current portfolio includes startups The Shelf, Coherent Path, and InfoScout.