"I probably learnt more in the last couple of years when we were struggling than I did in the periods we had success. Failure forced me to reflect much harder on what had worked and what didn't work."
Mr Fox said he will be able fund the startup through to launching and in the next month or two he will start fundraising.
"I have talked to a lot of my old Shoes of Prey investors and they all loved it and are excited to speak more when I am ready to raise and I am starting to meet more people in the food and impact space,"he said.
Mr Fox is not the only one moving on,with Shoes of Prey co-founder Jodie Fox relocating to the United States where she is"consulting to a range of companies".
Mr and Ms Fox were previously married but continued to work together at Shoes of Prey after separating in 2012.
Ms Fox married Vuki Vujasinovic,founder and chief executive of public relations firm Sling&Stone,in Italy two months ago and is writing a book about Shoes of Prey titledReboot,which will be published in November.
Shoes of Prey's third co-founder Mike Knapp exited the startup in 2017 and after a brief attempt at another startup,social network Mottle,is now employed by Google as a product manager.
Rick Baker,partner at Shoes of Prey investor Blackbird Ventures,said he is proud to have worked with Ms Fox,Mr Fox and Mr Knapp.
"We'll definitely be looking closely at what they are doing next and would consider backing them again if they start another business,"he said.
Former Blue Sky Alternative Investments partner Elaine Stead spoke about Shoes of Prey's failure in a recent podcast with marketer Jason Dunstone.
Ms Stead said failure was"par for the course"in the startup sector and criticised the media for"shaming"the founders of Shoes of Prey.
"The management team of Shoes of Prey did not do anything wrong,they did not squander money,they didn’t waste money,"she said."They had a go,the investors that invested knew it was a high risk investment,and they couldn't make it work they couldn't get to the scale needed to not have to raise money and the dream just fizzled out."
Ms Stead said there will always be startups which"shoot for the moon"and just miss.
Loading
"I hope those founders get recycled back into our ecosystem in some way shape or form so they can leverage and stand on the shoulders of that learning,"she said.
FollowMySmallBusiness onTwitter,Facebook andLinkedIn.