British Fashion Council-backed software to end fast fashion gets £4.75m boost
Today (July 9), fashion software company Unmade has revealed a new funding round of £4.75m.
Octopus Ventures is the lead investor with additional funds coming from MMC Ventures, Felix Capital and existing investors.
The financing will be used to fund Unmade’s continued global expansion and development of its technology, as well as improvements in serving existing customers.
Unmade plans to grow its team both in Europe and the US. The company has grown this year with new customers and the expansion of its London-based team.
Zoe Chambers, future of industry lead, Octopus Ventures, said: “With fashion brands and consumers increasingly conscious of wastage and unsold stock arising from mass production and mass consumption in the fashion industry, Unmade is showing itself to be a pioneer.
“[It delivers] disruption in the industry by using technology to offer demand-driven manufacturing. Unmade has already seen rapid growth this year, with its recent teamwear launch proving a resounding success…”
She added: “We expect to see this continue as the company further develops its on-demand supply chain offering. We are delighted to be joining Unmade at such a crucial time in its journey and look forward to working with this fantastic team.”
Since the last investment round, Unmade’s technology has developed to offer print customisation alongside its knitwear solution and its first team-wear customer, Rapha Custom.
Founded by Hal Watts, Kirsty Emery-Laws and Ben Alun-Jones, Unmade began with the mission to reimagine the design and manufacturing processes within the fashion industry, so brands only make what is actually sold, in support of a sustainable, ethical economy.
To date, Unmade has raised £10m with earlier round investors including Connect Ventures and Felix Capital as well as fashion and retail companies and organisations like the British Fashion Council and Farfetch.
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