Channel 4 Ventures teams up with AI powered home and living marketplace Fy
Channel 4’s consumer investment arm, Channel 4 Ventures, has secured a £3 million investment into Fy!, an AI powered home and living marketplace.
The media-for-equity deal will enable Fy! which recently acquired independent boutique marketplace Trouva, to tap into significant audiences for popular Channel 4 home improvement shows such as Grand Designs.
For Fy! the deal marks the latest step in their journey of changing the way people discover and shop home and living products. By using the latest AI language and image processing models Fy! matches users with the right product, in the right style at the right time. This approach marks a leap forward in a category dominated by established ecommerce.
The deal supports Channel 4’s wider goal of diversifying its revenue streams as it transitions to becoming a digital-first public service streamer, as laid out in its Fast Forward Strategy.
The deal enhances Channel 4 Ventures’ portfolio of home and living space investments which have previously included; Vinterior, Purple Bricks, Swyft, MyBespokeRoom, Coat Paints, Rated People and Get Agent.
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Vinay Solanki, Head of Channel 4 Ventures, said: “We’re at the forefront of demonstrating the potential of media-for-equity for brands looking to scale in the UK and we are proud to invest in a company that extends our experience in the home and living space. Programmes where home interiors take centre stage are very popular with Channel 4 viewers, whose relevant programming is long distinguished. This partnership is yet another example of how we can create significant commercial benefits for the businesses that collaborate with us.”
Tom Beverley, CEO & Co-Founder of Fy! said “At Fy! we’re on a mission to transform how people shop the Home & Living category. Our unique combination of great products, amazing design ideas and cutting edge AI tech is something we think the Channel 4 audience is really looking for.”
Channel 4 Ventures is the leading consumer venture capital investor which re-invests returns into Channel 4. The fund is the pioneer of the media-for-equity investment model in the UK, investing in consumer companies from post-seed to pre-IPO stages using Channel 4’s advertising space and in return receiving equity stakes in the companies it backs.
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