Unique Solutions attracts private investment

Burnside's Unique Solutions Design Ltd. has attracted the attention of Toronto-based Northwater Capital's Intellectual Property Fund to the tune of $30 million in new funding.

The investment will allow the company to accelerate its North American expansion plans, including hiring 11 new employees. It now has 32 employees, with most of them working out of Unique's Burnside headquarters.

Unique Solutions is a data company that's transforming fashion retailing by using body scan kiosks to help shoppers buy the best-fitting clothes possible. Last year, the company opened its first permanent kiosk in a mall at King of Prussia, Pennsylvania. With the additional funds, Unique plans to open more than 300 kiosks across North America.

The body scanning service is free and also generates personalized shopping guides telling people where to buy the best clothes for them. Unique Solutions has recently been featured on CNN, People magazine, NBC's the Today Show and the New York Times.

"The support we've received in Nova Scotia has been truly fantastic," says Tanya Shaw, president and CEO of Unique Solutions. "As well as financial support, NSBI and other private groups have helped us develop this business to become a force in the world of international retail."

NSBI Venture Capital has invested about $5.6 million in Unique Solutions, helping it grow to the point that it attracted the funding.

"Unique Solutions is proving that Nova Scotia entrepreneurs can be market leaders around the world, and our jobsHere plan to grow Nova Scotia's economy is committed to supporting more results just like Unique's," says Economic and Rural Development and Tourism Minister, and Minister responsible for Nova Scotia Business Inc., Percy Paris. "Our previous investments in Unique Solutions have matched the company's innovation with the money needed to develop the business into a commercial success."

"Unique's success in attracting capital and expanding internationally demonstrates that NSBI's earlier investment in Unique was a good move for Nova Scotia," says Stephen Lund, president and CEO of NSBI.