UK - SPARK Ventures leads seed round for mydeco.com

Sarah
04 February 2008

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SPARK Ventures has led the financing of mydeco.com in what is reported to be one of the largest internet seed rounds in Europe. SPARK is the lead and largest investor in mydeco.com, an interior design website developed by the team behind lastminute.com, which launches today. This is the second time the SPARK Ventures team has backed the management team behind mydeco.com, having formerly led the financing of lastminute.com, through NewMedia Investors, in 1998. Other investors in mydeco include Arts Alliance, a venture capital firm which also previously backed lastminute.com; Lord Rothschild’s family interests; Edward Atkin, founder of Cannon Avent; Marc Worth, founder of Worth Global Style Network; and Yoo Ltd, the property branding, design and investment company led by John Hitchcox and Philippe Starck.

The funding round took place in 2007 ahead of the launch of mydeco.com today. The website aims to transform the way consumers design and shop for their homes making it easy and enjoyable to furnish a home using the latest online technology. The site will also feature easy-to-use 3D room-planning tools which show how real products will look in a room.