LONDON, UK, 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:
"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.”
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.
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 helps pioneers change the world. The pioneers we back dare to reimagine the future of health, money and industry.
With £1.2 billion under management, Octopus Ventures is one of the largest VCs in Europe. Our typical investment is from £1 million for Seed to £5 million for Series A and we can follow our investment from a few hundred thousand right up to £25 million.
Our team is based in London and New York with Venture Partners in San Francisco, Singapore and China. The companies we back become a part of this network, with access to a formidable resource of experience and expertise.
Octopus Ventures have backed the founding teams of nearly 100 companies including Zoopla, Secret Escapes, Elvie, Depop, Sofar Sounds and Cazoo. Some of our portfolio companies have gone on to join forces with the world’s largest businesses including Google, Amazon, Microsoft and Twitter.
Our investment team is focused on the three areas we believe have the most potential to change the world for the better:
Future of Health - Helping the pioneers who are improving lives through digital health, tackling ‘taboo’ issues and creating essential software to power health systems.
Future of Money - Backing the companies that will transform the way we exchange and allocate resources as a society.
Future of Industry - Focusing on the tools and technologies that will power the next industrial revolution. These include human computer interaction, edge computing, robotics and synthetic biology.Octopus Ventures is part of Octopus Group
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, transforming these markets by offering our customers access to smart and simple solutions that do what we say they will. Today we manage more than £8 billion on behalf of retail and institutional investors. Octopus Energy, Octopus Investments, Octopus Renewables, Octopus Real Estate, Octopus Ventures and Octopus Wealth are all part of Octopus Group. Visit octopusgroup.com.