The funding will be used to invest in mmERCH's proprietary technology stack, expand the engineering team, and invest in future collections. The company is challenging the fashion industry's conventions, from ideation to supply chain to customer experience, and is tapping into consumers' increasing desire for uniqueness. This news comes amidst a growing backlash against fast fashion, with the company aiming to provide a unique and sustainable alternative.
Key takeaways:
- Blockchain-enabled, AI powered fashion start-up, mmERCH, has announced a $6.4 million seed funding round led by Liberty City Ventures, with participation from 6529 Holdings LLC, Christie’s Ventures, and Flamingo DAO, among others.
- The venture uses generative algorithms to create unique fashion pieces, each with a digital twin verified by blockchain integration. The company was announced in late 2023 and will release its debut collection in April.
- mmERCH's approach challenges the conventional fashion industry, tapping into consumer desire for uniqueness and countering the homogenous nature of fast fashion. This comes amidst increasing backlash against fast fashion, highlighted by a recent French bill proposing penalties for excessive production volumes and turnover speed.
- The funding will be used to invest in the brand’s proprietary technology stack, expand the engineering team, and invest in subsequent collections. The team behind mmERCH includes founders, creators, collectors, curators, artists, academics, and authors.