Channel 4 Ventures teams up with AI powered home and living marketplace Fy! in £3 million partnership

4 July 2024

Channel 4’s consumer investment arm, Channel 4 Ventures, has secured a £3 million investment into Fy!, an AI powered home and living marketplace.

The media-for-equity deal will enable Fy!  which recently acquired independent boutique marketplace Trouva, to tap into significant audiences for popular Channel 4 home improvement shows such as Grand Designs.

For Fy! the deal marks the latest step in their journey of changing the way people discover and shop home and living products. By using the latest AI language and image processing models Fy! matches users with the right product, in the right style at the right time. This approach marks a leap forward in a category dominated by established ecommerce. 

The deal supports Channel 4’s wider goal of diversifying its revenue streams as it transitions to becoming a digital-first public service streamer, as laid out in its Fast Forward Strategy. 

The deal enhances Channel 4 Ventures’ portfolio of home and living space investments which have previously included; Vinterior, Purple Bricks, Swyft, MyBespokeRoom, Coat Paints, Rated People and Get Agent.

Vinay Solanki, Head of Channel 4 Ventures, said: "We’re at the forefront of demonstrating the potential of media-for-equity for brands looking to scale in the UK and we are proud to invest in a company that extends our experience in the home and living space. Programmes where home interiors take centre stage are very popular with Channel 4 viewers, whose relevant programming is long distinguished. This partnership is yet another example of how we can create significant commercial benefits for the businesses that collaborate with us."

Tom Beverley, CEO & Co-Founder of Fy! said “At Fy! we’re on a mission to transform how people shop the Home & Living category. Our unique combination of great products, amazing design ideas and cutting edge AI tech is something we think the Channel 4 audience is really looking for.”

Channel 4 Ventures is the leading consumer venture capital investor which re-invests returns into Channel 4. The fund is the pioneer of the media-for-equity investment model in the UK, investing in consumer companies from post-seed to pre-IPO stages using Channel 4’s advertising space and in return receiving equity stakes in the companies it backs. 

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About Channel 4 Ventures

Established in 2015, Channel 4 Ventures is the consumer venture capital arm of Channel 4. The fund is the pioneer of the media-for-equity investment model in the UK, investing in consumer companies from the seed to pre-IPO stages using Channel 4’s advertising space (linear and streaming) and in return receiving equity stakes in the companies it backs.

We are a thesis driven investment team that believes that consumer companies can scale more rapidly by leveraging the reach of mainstream media platforms, like TV and VOD. Channel 4 Ventures exists to allow consumer companies to experience the benefits of brand advertising at an earlier stage of development than otherwise possible. Channel 4 Ventures has completed over 60 deals, backing companies such as what3words, Oddbox, Purplebricks, Pinterest, Crowdcube, Carwow, Raylo and Swyft. Channel 4 Ventures is core part of Channel 4’s revenue diversification strategy, which seeks to reduce Channel 4’s reliance on advertising revenues. All profits made from exits of Channel 4 Ventures equity stakes are invested in the creative ecosystem.

About Channel 4

Channel 4 exists to create change through entertainment. Publicly owned yet commercially funded, Channel 4 generates significant and sustainable cultural, economic and social impact across the UK – at no cost to the taxpayer.

The broadcaster’s distinctive remit is set by Parliament, and it has a role to represent unheard voices, challenge with purpose and reinvent entertainment. For more than 40 years, it has been a British success story, engaging generation after generation of young people.

With a unique publisher-broadcaster model, Channel 4 commissions its content from the UK independent production sector. Working with hundreds of creative companies every year, Channel 4 makes a major contribution to the local, regional and national economy, creating and supporting thousands of jobs and businesses across the country.

In 2024, Channel 4 launched its Fast Forward strategy to accelerate its transformation into an agile and genuinely digital-first public service streamer by 2030. It is designed to ensure Channel 4 embraces the generational shift in TV viewing, elevates its impact across the UK and stands out in a crowded market.

From its bases in London, Leeds, Manchester, Bristol and Glasgow, Channel 4 is fully committed to harnessing the power of its regional structure to increase its impact across the UK. Through its training and development initiative 4Skills is opening up opportunities in broadcasting, with a particular focus on disadvantaged young people and addressing skills gaps across the Nations and Regions. 4Skills invests £5m in training, development and learning opportunities annually and this will double to £10m by 2025.

Channel 4 has the UK’s biggest free streaming service. Through Film4 Productions, Channel 4 also invests in British filmmakers to huge critical acclaim, producing 43 Oscar wins and 97 BAFTA wins in its history.

About Fy!

Fy! is an AI powered home and living marketplace on a mission to help everyone feel great about their home. Fy! uses AI,social content and a deep understanding of their products to create a personalised experience for each shopper. 

Fy! was launched in 2017 by Tom Beverley and Jonathan Thomson, they wanted to use AI to make the world of design discoverable, affordable and instantly accessible. The marketplace connects an incredible global community of independent artists, brands, shoppers and content creators, operating on a proprietary AI powered technology platform. 

Fy! partners with over 20,000 brands and artists and enables them to sell their home & living products to customers around the world.