Virtuall, a startup in the fashion technology realm based in Copenhagen, just secured about €829K in pre-seed funding. This investment round was led by EIFO (Export and Investment Fund of Denmark), Styleit (a FashionTech accelerator within the Italian National Accelerator Network of CDP, Cassa Depositi e Prestiti), and Antler, Europe’s prominent early-stage VC firm. Notable angel investors like Morten E. Wulff, Bjorn Bruun, Tarmo Renter, and Anders Gustafsson also participated. Virtuall specializes in developing technology that facilitates the integration of fashion brands into virtual spaces. Their platform simplifies connections between brands, 3D channels, and data distribution, enabling fashion labels to reach tech-savvy customers more effectively. The funding will primarily be used to enhance their platform, automate processes for faster delivery, and scale up sales. Additionally, they plan to expand their team in Denmark, Latvia, and Italy, focusing on regions at the core of Europe’s fashion industry where they’ve recently established an office.
The creation of Virtuall began in 2022 during a residency with Antler in Copenhagen and Norway. The company was founded by four individuals: Jonas Wallengren, Felix Wigand, Markus Helle Pettersson, and Nauris Dorbe. These founders possess significant entrepreneurial experience in both digital transformation and the creation of lifestyle brands. Collectively, they have a track record of launching and successfully exiting several ventures. What’s interesting is that they come from different national backgrounds, representing Sweden, Germany, and Latvia, bringing a diverse range of perspectives and skills to the table.
Mathias Kaasgaard, investment manager at EIFO, commented, “We are delighted to be a part of Virtuall’s growth story through our recent investment. This further underlines our belief in their potential to become a category defining company within a growing digital fashion industry. We applaud their visionary strategy aimed at redefining the fashion industry’s approach to creating collections, a mission that aligns seamlessly with our persistent commitment to championing sustainable business models and driving innovation.”
Michael Wiatr, Partner at Antler, added: “Virtuall is connecting some of the world’s biggest industries – gaming and fashion. They have the potential to give brands the technology to bring their products to the metaverse and connect with Gen Z consumers through digital platforms. We are delighted to have backed the Virtuall team from day zero and have every confidence in the future growth of the business.”
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