Fetch Rewards raised $4 million in Series A funding recently. The company, which has developed an innovative app for grocery shoppers, will use the money to scale their business from 10 stores to as many as 100. The service allows customers to track their purchases as they go and apply coupons when they are available. Shoppers also accumulate points for using Fetch, which can be redeemed to buy special in store items. To date, Fetch has raised $8.5 million.
Read more about Fetch Rewards recent funding here.
Fetch Rewards won the $10,000 Innovative Minds Prize on May 10 at UW-Madison. Fetch Rewards is a mobile application designed to reinvent the grocery shopping experience by adding several benefits to the environment. The mobile phone application lets shoppers directly scan purchases into their phones, providing a running tab of the grocery bill and automatically triggering available coupons. It also saves the shopper time at the checkout aisle.
The Innovative Minds Prize recognizes the top UW student innovation of 2013 that is best positioned for commercial development. For more, go here.
The 2013 Burrill Business Plan Competition at UW-Madison wrapped up last week. This year’s competition attracted 32 different entries from UW students that competed for $27,500 in prizes. The top teams included:
3in1 Holders – A self adjusting fishing rod holder that keeps bait at a steady height even in choppy waters.
Re Prosthetics – Developing a high-performance prosthetic that can replicate a patientâ€™s lost hand using 3D printing technology.
Fetch Rewards – A free grocery shopping mobile application that enables customers to build one-to-one relationships with their favorite grocery stores and CPG brands while shopping.
Read more about this year’s competition here.