Wool and the Gang sews up $2.8 million round from three VCs

Index Ventures, Wellington Partners and MMC Ventures are coming together to back the growth of fashion brand Wool and the Gang.

Anti-factory fashion business Wool and the Gang has netted $2.8 million (£1.8 million) of equity growth capital to grow in existing markets, including the US, UK, Europe and Japan, as well as develop its Gang Collection.

Founded by Aurelie Popper and Jade Harwood in 2008, Wool and the Gang provides handcrafted or knitted products created by its ‘team of artisans and makers’. According to the business, it wants to ‘reboot’ old-style home manufacturing by producing fashion which is never made in a factory and made from sustainable sources.

Lisa Rodwell, CEO of Wool and the Gang, says that the company is ‘incredibly excited’ to have secured experienced investors.

She adds, ‘Our quest [is] to build a worldwide movement around sustainable, fashion that’s made unique and never from a factory.’

Wool and the Gang now has a group of investors which have previously backed fashion and craft companies such as Nasty Gal and Etsy (Index Ventures), alexandalexa (MMC Ventures) and Retailo (Wellington Partners).

To coincide with the seed investment, Wool and the Gang is launching its The Gang Collection, which features two handbag styles, each made unique by its maker.

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Neil Rimer, co-founder of Index Ventures, comments, ‘Lisa and the team have the vision and ability to build a game-changing fashion business, connecting people all over the globe in a way that has never been done before.

‘In a matter of a few years, they have created a powerful brand with influential fans – and that’s down to the imagination and talent of the design team.’

London-based Wool and the Gang have also secured the backing of a number of other undisclosed technology backers and will be investing in its marketplace following the launch of The Gang Collection.

MMC Ventures partner Rory Stirling says technology and the internet will continue to change the way fashion is designed, created and delivered.

‘We love Wool and the Gang’s approach to unique and sustainable collections, combined with significantly reduced time to market and the power of a highly-engaged community,’ he says.

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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