GLOBAL FASHION SOFTWARE COMPANY UNMADE RAISES £4.75M IN A FUNDING ROUND LED BY OCTOPUS VENTURES
LONDON — July 2019— Fashion software company Unmade today announce 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.
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.
Founded by Hal Watts, Kirsty Emery-Laws and Ben Alun-Jones, 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.
Unmade has already seen rapid growth this year, with its recent teamwear launch proving a resounding success, and 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.”
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, and recently launched a groundbreaking teamwear offer with UK cycle brand Rapha. 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.”
About Octopus Ventures
Octopus Ventures, part of Octopus Group, is a leading European venture capital firm that helps pioneering entrepreneurs change the world by taking ideas from inception to international scale-up. Where there is change there is huge entrepreneurial opportunity, particularly in three key areas; industry, money and health. We’ve refined our focus towards these specialisms to discover the next generation of innovators. Octopus Ventures is headquartered in London and New York, withVenture Partners in San Francisco, Shanghai and Singapore who offer exclusive insight and advice to our portfolio companies looking to expand into new markets. Octopus Ventures has supported over 100 outstanding entrepreneurs that are leading the way in disrupting their industries. Companies backed in recent years include allplants, Elvie, Depop, Big Health, graze.com, Eve, Magic Pony, Secret Escapes, Sofar Sounds, Swiftkey, Swoon Editions, tails.com and Zoopla Property Group.
Unmade is a global fashion software company driving innovation through an end-to-end digital solution for on-demand production at scale, delivering customisation, team-wear and micro-fulfilment. Unmade is working with some of the most innovative fashion, lifestyle and sportswear brands to foster a new level of customer experience through customisation and direct interaction with the product that is completely complementary to the existing production process. The business, started by Hal Watts, Kirsty Emery and Ben Alun-Jones in 2014, was born out of a desire to reimagine both the design and manufacturing processes within the fashion industry, so brands only make what is actually sold, resulting in minimal waste. The company’s cutting edge patented software was nominated for the LVMH Innovation Award at VivaTech in Paris, and in 2017, it won the Best Use of Innovation at the Drapers Digital Awards in London. Furthermore, Unmade was most recently named in Fast Company’s 50 Most Innovative Companies. Pieces from Unmade are now a part of the permanent collections at both The Museum of Modern Art in New York and the Victoria and Albert Museum in London.
About MMC Ventures
MMC Ventures is a research-led venture capital firm that has backed over 60 early-stage, high-growth technology companies since 2000.
MMC’s dedicated research function provides the Firm with a deep and differentiated understanding of emerging technologies and sector dynamics, to identify attractive investment opportunities. MMC’s research team also supports early stage companies through the life of MMC’s investment.
MMC helps to catalyse the growth of enterprise software and consumer internet companies that have the potential to disrupt large markets. The Firm has one of the largest software-as-a-service (SaaS) portfolios in Europe, with recent exits including CloudSense, Invenias and NewVoiceMedia.
MMC’s dynamic consumer portfolio includes several of the UK’s favourite companies, including Bloom & Wild, Gousto and Interactive Investor.
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