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AI-powered fashion agent Gensmo secures 60 million dollars in funding

Just months after its launch in December 2024, AI-powered fashion agent Gensmo has closed on a seed funding round amounting to over 60 million dollars. The financing “signals that investors deeply believe in the company’s mission to bring real AI innovation to the fashion e-commerce world”, Gensmo said in a release. The US-based company, which...

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E-commerce startup Pixyle AI raises one million euros to scale company

Pixyle AI, a tech startup focused on providing visual artificial intelligence (AI) for e-commerce retailers, has announced a one million euro seed funding round to back its mission of enhancing online shopping experiences. Currently based between Amsterdam and North-Macedonia, Pixyle AI said it would use the financing to further expand its...

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ITV-backed brand Woo launches ‘mood-led’ marketplace for Gen Z

Woo, a brand backed by the UK’s broadcasting television network ITV, has launched a new “mood-led” marketplace centred around the subculture of wellness. The platform features a curation of both new and pre-loved products that have a lateral take on wellness, with categories including beauty and fashion, homeware and tech and lifestyle and art....

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Clearpay partners with Square and BFC to support emerging designers’ e-commerce

Payment provider Clearpay has partnered with Square, a commerce tech company, to launch a programme with the British Fashion Council (BFC) that looks to help emerging designers establish their online presence. As part of the initiative, British designers that are a part of the BFC network can take part in an e-commerce mentoring package provided...

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Mango invests in sustainable start-up Recovo

Fashion group Mango has furthered its sustainability efforts with a new investment in textile waste start-up, Recovo. The deal comes as part of the Mango StartUp Studio project, through which the retailer will support the circular firm via a convertible equity loan. As part of the initiative, Recovo will have access to an acceleration programme...

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NFT vending machine set to launch in London

A new physical non-fungible token (NFT) vending machine is preparing to be unveiled in London in an attempt to make digital assets more accessible for a wider consumer. The concept was developed by multichain NFT marketplace MyNFT, which is looking to allow customers to create, trade and migrate the asset across any blockchain at a low cost. The...

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L’Oréal launches metaverse-focused accelerator programme with Meta

Beauty giant L’Oréal has announced the launch of a start-up scheme with social media group Meta, formerly Facebook, which will focus on the development of an “inclusive” metaverse ecosystem. The acceleration programme, specifically established by L’Oréal Groupe in France, aims to empower and support start-ups that are looking to build an...

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Metav.rs and Sknups among first participants in Farfetch’s Web3 accelerator programme

Farfetch has revealed eight start-ups that will make up the first participants of its Web3-based accelerator and investor programme, Dream Assembly Base Camp. The initiative, which the luxury retailer launched alongside Outlier Ventures, aims to bolster businesses that are working to shape the future of Web3 luxury e-commerce. Through the remote...

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Sustainable production company Unfolded secures 1.2 million pounds funding

Unfolded, a sustainable clothing production platform, has announced it has secured 1.2 million pounds in funding to support its mission to remove waste from the fashion industry. In order to do so, the platform makes clothes by designing each item alongside shoppers and only producing the pieces after orders have been taken. The process is made...

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NFT platform Metav.rs secures three million euro funding to support development

Metav.rs, a white label solution facilitating the creation and sale of non-fungible tokens (NFTs), has secured a three million euro seed round to help accelerate its platform development, boost recruitment and globally expand. Its platform, which launched January 2022, allows brands and agencies to manage their own virtual worlds through a web...

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Amazon launches 150 million dollar investment fund for underrepresented entrepreneurs

Online marketplace Amazon has launched a new initiative dedicated to supporting and funding entrepreneurs from underrepresented backgrounds. The 150 million dollar fund, ‘Amazon Catalytic Capital’, will look to support venture capitals, accelerators, incubators and venture studios that back relevant companies which are primarily at the pre-seed...

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Seamm closes funding round to help develop digital fashion platform

US start-up Seamm has announced its launch out of stealth with 1.7 million dollars in funding to scale and develop its digital fashion goods platform. From October, the company, which is launching as part of tech conglomerate The Lydian Group, will offer brands the opportunity to expand into the metaverse through the creation of 3D versions of...