Bright Minds Capital Partners announces investment in AI powered retail technology company NearSt

Bright Minds Capital Partners has made an undisclosed investment in NearSt, an AI driven platform that aims to get people back into physical stores by connecting local inventory to the web.

"We invest in companies that set trends," says David Holme, Founder and Executive Chairman. "NearSt is transforming the visibility of local businesses, ensuring they thrive in the digital age. Their Al driven approach aligns perfectly with our vision of technology as a force for real-world impact."

Nick Brackenbury, CEO at NearSt, adds: “The future of commerce is local, and bridging the physical and digital worlds of retail is key to unlocking its full potential. Bright Minds Capital Partners shares our vision for empowering retailers through technology, and their investment will accelerate our ability to expand our platform and bring our local inventory feed technology to more customers and businesses worldwide."

“An important step forward for convenience retail”

NearSt recently announced a new solution for UK convenience retailers that automatically connects their EPoS systems and in-store inventory to major delivery platforms such as Uber Eats, Deliveroo, and Just Eat. 

"This technology represents an important step forward for convenience retail," said Brackenbury.

"We're empowering local retailers with capabilities that were previously out of reach. With our extensive network of over 150 Point of Sale partners alongside our last mile delivery integrations, we enable retailers to seamlessly transform their last mile offering into a genuine competitive advantage and revenue driver."

Pricewatch Group - operating stores under Morrisons Daily, Nisa, Gulf, and BP brands - was the first retailer to leverage NearSt’s real-time local inventory feeds with delivery platforms, starting in September 2024.

It reports significant results in streamlining operations, enhancing customer experiences and improving staff productivity: 913% sales growth across last mile platforms (first 11 weeks); 233% increase in Just Eat sales alone; 59 hours per month saved in menu management; 37% reduction in failed orders weekly; 115% expansion in product range on last mile menus.

"We tried multiple digital partners and previously spent hours manually uploading inventory data. Then NearSt just comes along and makes it work. We've saved so much time and been able to reallocate it elsewhere to get much more done. From an operational time-saving aspect, ithas been invaluable.” said Tom Buckley, General Manager at Pricewatch Group.

"NearSt has made it achievable for us to run a cost-effective last mile operation that's saving us a huge amount of time and money," commented Claire Goddard, Marketing Manager at Pricewatch Group. "We now have a flawless and professional menu that rivals those of the major supermarket chains making it a dream for our customers to shop and buy on."

RTIH AI in Retail Awards

RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries. 

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Thursday, 3rd July. This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.

Please email our Editor, Scott Thompson, if you have any questions or need further information: scott.thompson@retailtechinnovationhub.com

Key 2025 dates

Friday, 23rd May: Award entry deadline 

Tuesday, 27th May: 2025 finalists revealed

Wednesday, 28th May - Friday, 13th June: Judging days

Thursday, 3rd July: Winners announced at the 2025 RTIH AI in Retail Awards Ceremony, to be held at The Barbican in Central London.