Scores of job losses as Guardian-backed research firm Streetbees collapse

An AI-powered marketplace probe steadfast backed by The Guardian's steadfast and erstwhile valued astatine $200m has collapsed, triggering much than 100 occupation losses.

Sky News has learnt that Streetbees, which has counted Unilever and Vodafone among its clients, fell into medication connected Monday aft last-ditch efforts to find a purchaser proved unsuccessful.

The nonrecreational services steadfast FRP Advisory has been appointed arsenic administrator.

Streetbees, which has besides worked with Heineken, Ferrero and Avon, raised tens of millions of pounds successful backing from blue-chip backers.

It landed a $40m Series B backing circular from investors including Lakestar, LocalGlobe and GMG Ventures - the early-stage concern limb of Guardian Media Group - successful 2020.

That backing circular reportedly valued the institution astatine $200m.

Responding to an enquiry from Sky News, a spokesperson for Streetbees said: "Streetbees confirms that it has present entered medication aft exhaustive efforts to unafraid further concern person proved unsuccessful.

"Despite beardown involvement from aggregate parties, we were incapable to reason a transaction that would supply the indispensable superior to proceed operations.

"Streetbees, which pioneered quality quality gathering done its innovative platform, had seen beardown traction with its caller AI-first merchandise SBX.

"However, the bequest challenges of the business, compounded by existent marketplace conditions, created obstacles they person been incapable to overcome.

"Unfortunately, each unit volition beryllium made redundant."