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Friday 10 August 2018

Unmade made up with $4m investment

LogoLondon-based fashion industry software platform provider Unmade has landed $4m in new funding. Led by Felix Capital, with Connect Ventures, LocalGlobe, Carmen Busquet, Backed VC and C4 Ventures, the investment will be used to accelerate business expansion and further build the company’s roster of senior talent.

Established in 2013 as Knyttan, the company rebranded as Unmade two years later. Its core platform links to a fashion brand’s production processes down to machine level allowing consumers to customise particular items to their own preferences. This enables on-demand clothes creation so that clients only produce garments that are actually sold.

To date Unmade has exclusively targeted the knitwear segment and counts three of America’s top 10 fashion brands amongst its clients. The company has begun to widen its market focus and has recently secured a partnership with cycle wear outfit Rapha Racing. The latest cash injection will support Unmade’s plans to grow its business across multiple brands, factories and geographies.

With one third of fabric currently going to waste from clothes production and between 10%-25% of garments ending up as landfill, the fashion industry’s focus on increasing its efficiency and sustainability has never been greater. Unmade appears well positioned to capitalise upon these growing concerns. Not surprisingly, other companies have spotted this opportunity. Amazon, for example, was awarded patent last year for an on-demand clothing production system. In a global apparel market worth c.$1.8b, however, Unmade has plenty of room to make its mark.

Posted by Duncan Aitchison at '09:25' - Tagged: saas   funding  

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