StarStock wins backing from Downing Ventures
StarStock, an innovative online trading drinks platform aimed at revolutionizing the wholesale drinks trade, has received backing from private equity investors, Downing Ventures.
Downing Ventures typically invests up £1 million in early and growth stage technology companies.
StarStock was founded in 2012 by Sam Ulph, whose experience in the industry included spells at Molson Coors, Pernod Ricard, Heineken, Magners and Diageo..
Prior to launch, StarStock spent a year researching the existing marketplace and refining its product in consultation with key potential clients.
It launched in March 2014.
Ulph said: ‘‘Our aim was to build a portal specifically for the industry to connect buyers and sellers, therefore widening the trading opportunities and delivering growth.
“We aim to become the global go-to marketplace for trading drinks online.”
StarStock has recently appointed Greg Barnett, formerly of Movehut, as chief technical officer. Barnett says: “I’ve been involved in launching the marketplace model in similar industries and seen it boom, this is no different.
“Sellers and buyers need each other, 24/7, and we can provide that service.”