By Brian Kovalesky, StartUp Beat Editor
Today’s early-stage startup funding and acquisitions news:
Wool and the Gang, a startup that obviously has a sense of humor but has a very serious idea for disrupting clothing production, has landed $2.8 million in Seed funding. Investors include Index Ventures, Wellington Partners and MMC Ventures. The company is building a global network of knitters—individual clothing producers that purchase materials from the company and then sell their finished products back to the site, which then sells the products at a retail price. On the surface, betting on knitters to change production in an industry dominated by large manufacturers is a big gamble, but fashion business disruption has proven to be a hot sector lately, and the company has attracted serious investor attention. Wool and the Gang is based in London and was founded in 2008 by Jade Harwood and Aurelie Popper.
Year Founded: 2008
Innovation: A global network of knitters that produce clothing that the company buys and then sells on its site at a retail price.
Funding: $2.8 million
More funding and acquisitions news…
Japanese Online Accounting Software “freee” Raises $2.7M from DCM and Infinity Venture Partners (via PRWeb/company press release)
# # #