Media Release Thursday 6th October 2022
Unfolded raises pre-seed round of £1.2 million to kickstart a sustainable fashion revolution
Edinburgh; Unfolded, the sustainable and ethical clothes production platform has raised £1.2 million to accelerate its mission to remove waste from the fashion industry and create a new sustainable way to shop for clothes.
The round has been led by Techstart Ventures with Solid Bond, FJ Labs, Sweetspot Capital, Pareto Holdings, participating alongside leading angel investors.
Research shows that as much as 30% of new clothing, made every year, is never sold.
Unfolded makes clothes without this waste by designing every item in conjunction with thousands of shoppers and then only producing after orders are taken. They've developed a unique factory to consumer supply chain working with some of the largest global logistic companies.
By removing the waste from clothing production Unfolded creates significant margin improvements, which are shared between offering consumers sustainable clothes at affordable prices, higher wages for workers and funding children to learn to read and write around their factories.
For the past year the Unfolded team has been running their own brand This is Unfolded as well as partnering with community focused creators and organisations to enable them to make their own sustainable clothing ranges. The first partnership saw them launch Drop 01 with leading media outlet, Who What Wear UK.
The company has already grown to over 10,000 customers in the UK.
This is Unfolded was founded in 2021 by the fashion tech team behind; Lost Stock and Mallzee Insights. With over a decade's experience at the forefront of the fashion industry; from helping retailers make improved (and less wasteful) buying decisions to supporting over 110,000 garment workers during the pandemic through global clothing box initiative Lost Stock, the team are passionate about the evolution of the fashion industry.
Cally Russell, co-founder and CEO said "Fashion is one of the most wasteful industries on the planet and the second biggest polluting. We've spent years trying to work with retailers to drive change in the industry to make it less wasteful and better for the planet, sadly though many of them don't want to change. Our experience to date showed us that to create real impact we need to take matters into our own hands and tackle the issue at source, thus Unfolded was born.
"This pre-seed investment enables us to amplify our mission with the insights and expertise brought by these investors; from backing some of the worlds best known tech platforms to real retailer insights."
Quote from Calum Forsyth, Investor at Techstart Ventures: "We've been impressed by the Unfolded team's ability to develop innovative products for the fashion industry, and we've seen them build truly engaged communities. Alongside their own D2C offering, we're excited to see the Unfolded technology being used by leading brands and organisations to offer a more sustainable option for their own apparel."
Shaz Sulaman, founder of Solid Bond; "We are pleased to be able to back the Unfolded team as part of their pre-seed round. It is clear that the team's background positions them in a great place to build a platform to change the way fashion works. Unfolded's strong growth proves that consumers want a better way to shop that is less wasteful, better for workers and allows the consumer to help decide what is made. We look forward to continuing to support the team as they deliver on their vision."
To find out more visit https://thisisunfolded.com/
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Notes To Editors
Press Images here
Impact images and case study videos also availablehttps://thisisunfolded.com/pages/prathamimpactsept2022?_pos=2&_sid=e8e8817f7&_ss=r
This is Unfolded offers sustainable affordable fashions, pioneering a brand new way to shop that avoids fashion wastage, pays garment workers better and supports children's education via charity partner Pratham to create long term impact.
Founded by leading entrepreneur (Forbes 30 Under 30 European influencer list and Drapers Next Generation - Ones To Watch) Cally Russell alongside co-founders Jamie Sutherland and Hilde Frydness.
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