LoveCrafts has announced $20m in new funding in an investment round led by Highland Europe, with participation from existing investor Balderton Capital.
The craft industry is now worth around $100bn, with sites LoveKnitting.com and LoveCrochet.com attracting millions of visitors every month. LoveCrafts has experienced impressive growth in recent times, tripling each year and now distributing to customers in over 100 countries.
It has bases in North America and Europe, along with sites in English and German languages.
The concept behind the community is to build homes for crafters online, with a disruptive business model that addresses every need in the crafting lifecycle.
Starting with inspiration, crafters can discover tens of thousands of independent designs in the pattern marketplace. Once they finish a project, they can use proprietary social tools to share and celebrate the results with a passionate global community of fellow makers.
Underpinning the entire journey is a customer-focused e-commerce experience where crafters can purchase supplies at any point from the biggest and best range of products available, anywhere.
LoveCrafts was founded by long standing colleagues Edward Griffith, Nigel Whiteoak and Cherry Freeman.
LoveCrafts founder Edward Griffith commented that “the renaissance of Britain’s craft industry is in full swing”.
“So many people are picking up knitting needles for the first time, and others are returning to the hobby again,” he continued. “We’re very excited to continue to build online homes for this global community of fantastic makers, one craft at a time.
“The whole team is thrilled to serve this wonderful community, and to continue to provide them with a place for inspiration, sharing, content and all the supplies makers can imagine.”
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