‘A game changing business’: 2022 RTIH Innovation Awards winner Sook lands Tobin Capital as investor

Tobin Capital has made an undisclosed investment in Sook, a startup that takes vacant retail spaces and gives them a modular, digital fit-out which can be rented by the hour.

In a LinkedIn post, Tobin Capital Founder, Luke Tobin, said: “I’m thrilled to announce that we have recently invested in the game changing business Sook.”

He added: “Sook is on a mission to revolutionise the high street. Founded by John Hoyle in 2019 from an empty restaurant in Cambridge, it now offers flexible, sustainable, digitally enabled ‘pop-up’ space to any brand, business, or community who needs it – whenever they need it – in prime retail locations.”

“Sook transforms empty shops into adaptive, ‘pop-up’ spaces, which are rentable by the hour. It does this by installing a modular digital fit-out, which occupiers can design and curate online. The Sook model removes the inefficiencies and cost of a traditional fit-out and allows multiple occupiers to use the space throughout the day.”

“If you haven't seen a Sook store yet, don't worry, with lots of new locations opening soon, it's only a matter of time!”

2022 RTIH INNOVATION AWARDS

Sook emerged victorious at the 2022 RTIH Innovation Awards in December, picking up the Bricks and Mortar Innovation gong.

Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December.

Our judging panel said of Sook: “There aren’t many things more depressing than empty shops on a high street, especially when it’s at odds with the number of innovative SMEs desperate for a bricks and mortar base to interact with customers.”

“Sook realised this demand for physical space hadn’t gone away, it just needed to solve the disconnect between brands and landlords while making it quick, easy and cost-effective for those brands to create a bespoke space.”

“As well as enhancing local communities and economies with these immersive pop-ups, it gathers analytics for its occupiers, allowing them to best understand how to use physical space as efficiently and effectively as possible.”

“Sook also claims to have placed great importance on sustainability with its offsite modular construction typically producing 30% less CO2 compared to a traditional shop fit and powering all its units using 100% renewable energy providers.”

“Finally, it’s not just SMEs working with the company – Uber, Mastercard, Facebook, SumUp, Hard Rock, Tik Tok, Jagermeister, Depop and Raspberry Pi all have also sought it out as a solution for enabling physical spaces to thrive via innovative technology.”

RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”

“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”

“Congratulations to our 2022 retail technology hall of fame entrants.”

The 2023 RTIH Innovation Awards are now open for entries. For further information, click here.