Fashion tech startup Unmade raises £4.75m
Fashion software company Unmade have announced a new funding round of £4.75M, with Octopus Ventures as the lead investor and additional funds from MMC Ventures, Felix Capital and existing investors.
Unmade has seen considerable growth this year with new customers and the expansion of its London based 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. The revolutionary team wear solution was launched in March 2019 with great success.
Unmade was started with the mission to reimagine both the design and manufacturing processes within the fashion industry, so brands only make what is actually sold, in support of a sustainable, ethical economy.
Unmade is driving innovation through an end-to-end digital solution for on-demand production at scale, delivering customisation, team-wear and micro-fulfilment.
Unmade is partnering with forward-thinking fashion, lifestyle and sportswear brands including Rapha Racing Ltd, and a number of iconic fashion houses to foster a new level of customer experience through customisation and direct interaction with the product that is completely integrated to the existing ecosystems.
Earlier partners of the company include Opening Ceremony, Farfetch, Christopher Raeburn and Selfridges.
To date, Unmade has raised £10M with earlier round investors including Connect Ventures and Felix Capital as well as leaders from the fashion and retail industries, such as Sian Westerman, President of Business and Investment Pillars of the British Fashion Council; José Neves, Founder and CEO of Farfetch; and Christopher Suarez, Co-founder and previous CEO of Nicholas Kirkwood amongst others.
Zoe Chambers, Future of Industry lead, Octopus Ventures, commented: “With fashion brands and consumers increasingly conscious of wastage and un-sold stock arising from mass production and mass consumption in the fashion industry, Unmade is showing itself to be a pioneer, delivering much-needed disruption in the industry by using technology to offer demand-driven manufacturing.
“We are delighted to be joining Unmade at such a crucial time in its journey and look forward to working with this fantastic team.”
Hal Watts, CEO and Co Founder, Unmade, commented: “We have an ambitious roadmap for the future of Unmade and we’re delighted to have the support of the team at Octopus Ventures, who understand our vision for a more efficient and sustainable fashion industry.
“Unmade now works with three of America’s top 10 fashion brands. With the help of Octopus Ventures we will continue to lead the fashion and sportswear industries, delivering our innovative end to end digital solution to power fashion driven by demand.”
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.