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Venture Capital News: Betabrand Pulls In $15M

2015-10-22
SAN FRANCISCO, CA, Betabrand today announced a $15M fundraising from Morgan Stanley and Foundry Group.
The SF-based startup crowdsources and crowdfunds new products daily, promising to be the world's fastest fashion label. To date, Betabrand has raised $29M.

According to founder Chris Lindland, 'Unlike the traditional fashion world, where designers wait 12-16 months to see their creations unveiled to consumers, Betabrand involves customers from the very start. On our platform, designers can see their ideas go from concept sketch to crowdfunding prototype in a matter of weeks.'

By centralizing manufacturing and logistics, Betabrand provides designers the opportunity to build a social network of fans around their creations. And it allows consumers to purchase from individuals, not brands.

The company's most popular designs this year: Dress Pant Yoga Pants and Black Sheep Sweaters.

Its biggest hit this Fall: the All-Day Coat, by Melissa Fleis, a Project Runway alum.

And just last week, Betabrand launched design collaborations with Valve Corporation and 3M - the former to develop fashion for gamers, the latter to inject reflectivity into women's fashion.

You can find more than 300 crowd-created products for sale at Betabrand.com. Next year, the company aims to multiply that number with increased investment in prototyping and hundreds of new collaborations with designers from all over the world.

San Francisco-based Betabrand is a crowdfunding clothing company that releases new designs daily.

Notable inventions include: Dress Pant Yoga Pants, Executive Hoodies, Gay Jeans , Space Jackets, Paparazzi-fighting fashion, Poo Emoji Dresses, and Silicon Valley Fashion Week.

For more information, please contact Betabrand CEO Chris Lindland (chris@betabrand.com) or simply reply to this email.
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