Fashion data firm EDITD has raised $4.4 million from Index Ventures and Frog Capital.
EDITD is the world leader in real-time market data and analytics for the fashion and apparel industry.
The company will use the funds to drive further hiring of key strategic positions in its London, Melbourne and recently-opened New York offices.
Fashioning a new industry
EDITD aren’t the only fashion startup leaping ahead in the UK.
Clothing fit visualiser Metail raised £2.6 million in December, and fashion brand ecommerce platform Silkfred crowdfunded £120,000 in October.
Back in August, Fashion Technologist Chloé Watts wrote for Tech City News on how co-working is disrupting the fashion industry.
[button link=”https://www.uktech.news/2013/09/12/this-seasons-five-fashion-tech-trendsetters/”]See London’s finest fashion tech startups[/button]
Retail wagging
And retail in general is leading the way. Britain became the world’s leading e-commerce exporter last month, and retail dominated the second wave of Future Fifty companies revealed in December.
StreetHub are one startup driving this forward with their click and collect system for independent shops.
Big names
EDITD’s clients span five continents and include ASOS, Gap, Gilt Groupe, Missguided, Target and Motel.
They use EDITD to help them understand their customers and competitors, by tracking and analysing more than 50 million product stock keeping units.
Beating the market
CEO Geoff Watts says the funding is further evidence that EDITD has changed a whole industry.
We’ll keep building our products, our infrastructure and our capabilities, so our customers can keep beating the market and achieve stellar results.
London Fashion Week
Fashion comes to the spotlight more than any other time in Britain at London Fashion Week – starting this Friday.
Watch out for Tech CIty News‘ coverage of the events.