Unmade gets backing from Denmark's AP Moller-Maersk
Unmade has received an investment from AP Moller-Maersk, the world’s largest shipping company, through its corporate venture arm Maersk Growth.
The financial terms of the deal were not disclosed, but the British fashion software company said the funds will be used to support the development and deployment of UnmadeOS, its operating platform.
Designed to address the issue of over-production, UnmadeOS is an on-demand platform used by leading fashion and sportswear brands. Farfetch, Selfridges, Rapha and New Balance are some of the fashion businesses that have used the service, which allows customers to create their own custom designs.
According to the company, the innovation will help solve systemic issues in the fashion industry, such as unsold stock. Because products are created on demand, the service limits waste.
Maersk Growth’s backing follows recent investment from Octopus Ventures and MMC Ventures.
“Maersk Growth invested in Unmade to support the team’s ongoing innovation in production in fashion and sportswear, reducing waste across the supply chain. Brands that work with Unmade unlock the benefits of becoming more adaptive, responsive and efficient,” said Oliver Finch, investor at Maersk Growth.
“Sustainability is a global aspiration, and manufacturing and logistics ventures have a meaningful role to play in addressing environmental, societal and operational challenges. Together with Unmade, we share a goal of enabling a more dynamic, sustainable and integrated future of trade.”
Hal Watts, CEO and co-founder of Unmade, added: “We’re looking to work with even more global fashion and sportswear brands that aspire to become demand-driven or need to realise the true potential of their iconic products in innovative ways. Gaining investment and additional support from Maersk Growth will help us achieve this ambition faster.”
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