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Urbanic’s $150 Million Series C Funding Paves the Way for Fashion-Tech Revolution

Published: December 6, 2023
Author: Fashion Value Chain

In a significant milestone, Urbanic, the London-based fast fashion retailer, has successfully secured a substantial $150 million in a Series C funding round. This financial boost, led by Mirabaud Lifestyle Impact & Innovation Fund from Switzerland, alongside support from D1Capital Partners, JAM Fund, and a cohort of global investors, including European luxury fashion families, underscores the growing recognition of Urbanic’s unique position as a technology and AI-driven fashion business.

The four-year-old startup, described by founding partner James Wellwood as predominantly a “technology and AI business,” has captured the attention of the massive Indian consumer market, boasting a staggering 1.4 billion potential customers. Wellwood outlined Urbanic’s strategic vision, with plans to channel $50 million of the investment into a direct-to-consumer approach in India. To further engage with customers, the company is considering the introduction of pop-up stores, blending online and offline retail experiences.

Central to Urbanic’s success are its cutting-edge AI and machine learning-based models. These technological assets enable the systematic generation of fashion designs and AIGC-based creatives, contributing not only to creative innovation but also to supply chain efficiency. Urbanic stands out for its commitment to environmental responsibility, evident in its focus on reducing waste through designs aligned with actual demand. The company is actively working towards achieving plastic neutrality and exploring the incorporation of biodegradable and recycled packaging materials.

The Series C funding injects new vigor into Urbanic’s mission, providing the resources to seamlessly blend AI-driven innovation with values-based initiatives. Beyond the realms of fashion, Urbanic aims to make a positive impact, appealing to conscientious consumers who seek both technological advancement and sustainable practices. This injection of capital positions Urbanic as a catalyst for a fashion-tech revolution, where cutting-edge technology aligns harmoniously with eco-conscious endeavors. The company’s forward-thinking approach is poised to redefine not just the fashion landscape but also the narrative of responsible and innovative retail in a dynamic global market.

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