Sustainable fashion startups successfully close financing rounds
The fashion world is globally responsible for higher CO2 emissions than the aviation and cruise industries combined, and many garments end up in the trash after just one season, barely worn or not worn at all. But even in this industry, sustainable business models are possible and even attractive for investors, as the current financing rounds of the Hamburg-based startups entire stories and UNOWN prove.
entire stories receives six-figure sum
Arnd von Wedemeyer (ex-CEO of Notebooksbilliger), Myriam Kirschner (Managing Director Data Protect Plus GmbH), Lasse Krüger (CEO of PMI Growth), Anna Gussner (Head of Online Marketing at Naturkosmetik München) and Sebastian Gronewold (CMO Ibstack) are investing a six-figure amount in entire stories in a pre-seed round announced in June 2022. Founded by Jacqueline Taborsky, Elena Gerdes and Cedric Michael in 2020, the startup offers a marketplace with sustainable fashion from around 60 brands with over 3,500 items.
To be considered for entire stories, vendors must meet various sustainability criteria. These include fair wages, materials that are either certified organic, recycled or recyclable, and donating a portion of profits to charitable projects. The startup UNOWN applies similar, though not quite as strict, criteria to its partner companies.
Two million for UNOWN
Unlike entire stories, UNOWN does not offer a shopping marketplace, but specializes in renting out clothing and accessories. There are two basic leasing models. Individual items can be rented for special occasions for at least two weeks. There is also the option of taking out a subscription for two or four garments per month.
Founded in 2019 by Linda Ahrens and Tina Spießmacher, the startup now has 22 team members and rents products from more than 80 brands. Further growth is made possible by a two million euro seed funding round from May 2022, led by Swiss impact investor Übermorgen VC, as well an inventory investor as APX. Also on board are Nicolas & Loïc Brunschwig (co-owner and co-CEO of Swiss luxury retailer Bongenie-Grieder), Maximilian Böck (CEO Marc O'Polo) and Vealo Ventures.
