Tech

Save Your Wardrobe Secures £ 2.5m Seed Investment – UK Technology Investment News

Save your wardrobe announced today that it has secured $ 3 million in seed funding, the largest seed investment round for a circular wardrobe platform in the UK. The funding allows the company to continue driving positive change in the fashion industry with greater European expansion and improvements to its products and technology.

Since its founding in 2017, Save Your Wardrobe has set out to drive systemic change in the fashion industry with its simple circular platform that brings together consumers, local businesses and global brands. The platform is the first of its kind, offering easy access to a full range of after-sales service that gives them the opportunity not only to alter and repair, but also to clean, personalize and recycle their clothing. This allows users to extend the life of their garments while supporting local tailors, cleaners and artisans in an effort to close the fashion cycle. Save Your Wardrobe also uses Artificial Intelligence, which allows items to be easily scanned, identified and stored in users’ virtual closets. This makes it easy to care for clothes, avoid cluttering your wardrobe with duplicate items, and share personal style inspirations with other circular fashionistas.

Founder and CEO, Hasna Kourda grew up in Tunisia, North Africa where sustainable practices such as garment care, reuse and reuse were common practices. After witnessing the excessive levels of consumption and the rise of fast fashion in Europe, she was inspired to create a solution to encourage consumers to make better decisions when it came to their wardrobes.

Speaking about the investment, Kourda said: “This investment round marks an incredibly exciting time for the Save Your Wardrobe team. Technology is at the forefront of our business and this investment allows us to truly fulfill our mission of being pioneers. in the circular fashion movement, with the most innovative technology to eradicate the throwaway culture “.

The initial $ 3 million funding will allow the UK-based tech start-up to expand into the European market with a focus on operations in the UK, Germany and France. It will also help grow the company’s product and technology teams and expand its B2B offering, having already secured a partnership with one of the world’s largest global retailers, Zalando.

Zalando partnered with Save Your Wardrobe by launching a Care & Repair initiative, to help achieve the ambitious goal of extending the life of 50 million garments by 2023. To support them in achieving this goal, Save Your Wardrobe has created a personalized care and repair solution to facilitate the connection Zalando’s customers with a network of after-sales service specialists throughout Berlin. In addition to offering the online retailer unique insights to learn more about their customers’ behaviors and wardrobe preferences.

The historic collaboration has allowed Save Your Wardrobe to show how, through the recalibration of its technology, it is able to provide both B2C and B2B functionality, offering insights and facilitating more informed consumption.

Save Your Wardrobe is now available on Android and iOS, for more information visit its website https://www.saveyourwardrobe.com/.

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Save Your Wardrobe Secures £ 2.5m Seed Investment – UK Technology Investment News

Source link Save Your Wardrobe Secures £ 2.5m Seed Investment – UK Technology Investment News

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