Thursday June 21, 2018

NY #Fashion Startup Receives $780K Seed Round

(image: Material Wrld)

Fashion startup Material Wrld just received a seed round of $780,000, led by Great Oaks VC, the same investor that backed other e-commerce businesses including Warby Parker, Modcloth and Bonobos. TechCrunch reported that SunBridge Startups, ImproVista, and several angel investors also participated in the round. Material Wrld is a hybrid e-commerce site that allows users to share photos of what’s in their closet and also a resale site for high-end brands. Users set up “closets,” or a collection of their favorite items.

Still in beta, Material Wrld will publicly launch its platform and mobile app next year. After the launch, the site will specify which brands can be sold. Co-founders Rie Yano and Jie Zheng say that re-selling items from the Gap or H&M could lead to a poor user experience in terms of quality.