RESPONSIBLE raises $6.6 million to aims to expand fashion technology in Europe Leave a comment
Style expertise RESPONSIBLE, creators of the world’s first embedded finance platform in vogue, as we speak introduced it has raised a $6.6 million Seed Spherical of funding capital.
RESPONSIBLE mentioned that it could use the funding to make a significant change within the vogue business, aiming to broaden its attain in Europe and prolong its community of brand name partnerships.
The funding was led by Barclays Sustainable Influence Capital and Techstart Ventures and included InPost founder Rafał Brzoska and Nextdoor CEO Sarah Friar.
The corporate was based in 2021 by Mark Dowds and Mitch Doust, with a mission to assist clear up vogue’s sustainability downside by encouraging reCommerce. The corporate launched streetwear re-commerce platform RESPONSIBLE.US final yr and launched a Purchase Again expertise resolution that it initially launched in partnership with sustainable vogue model RÆBURN.
The Purchase Again plug-in resolution may also be built-in into e-commerce and bodily shops, with RESPONSIBLE additionally offering the hooked up infrastructure and operational functionality to vogue manufacturers, it mentioned.
RESPONSIBLE now counts equipment label côte&ciel in addition to denim manufacturers Kuyichi and Kings Of Indigo to its rotar of companions and presents a few of their product on their re-sale platform, with extra to be introduced over the approaching months.
Andy Challis, co-Head of Principal Investments, Barclays, mentioned: “Innovation within the vogue business is essential in lowering international carbon emissions, and Barclays is delighted to help RESPONSIBLE because it continues to scale and tackle this challenge. RESPONSIBLE.US has developed an progressive mannequin which allows circularity within the vogue business.”
Mark Dowds, Founder and CEO, RESPONSIBLE, added: “We’re enabling manufacturers to not solely grow to be accountable for all the pieces they produce, but in addition to financially profit from a extra round and sustainable enterprise mannequin. Information sources like Black E-book and Glass’s Information reworked the automotive business, we plan to do the identical in vogue.”
Christopher Raeburn, Artistic Director, RÆBURN, commented: “We attempt to understand compelling, enduring design options and construct significant relationships with those that share our ardour for optimistic change. With this in thoughts, we’re delighted to have established a partnership with RESPONSIBLE who’ve the potential to be an outstanding catalyst for change, and whose resolution we’re assured will considerably enhance the lifespan of RÆBURN clothes.”
