DressX Raises $15M to Develop the Future of Digital Fashion
Digital fashion platform DressX raised $15 million in a Series A round led by Greenfield Capital.
The company will use the funds to scale its vision of the future of fashion.
Multi-brand digital fashion platform DressX raised $15 million in a Series A round led by Greenfield Capital. The Berlin-based venture fund focuses on early-stage crypto startups and has previously invested in Dapper Labs, Yield Guild Games, NEAR Protocol, and other well-known crypto companies. Among the other backers in the round are Slow Ventures, Red DAO, and Warner Music Group.
According to the announcement, DressX will use the funds to scale its vision of the future of fashion. First of all, the company aims to ensure the interoperability of its digital fashion assets. Secondly, the digital clothing creator plans to improve the performance of its NFT marketplace and mobile application. DressX also shared the company’s goal to grow the community and develop partnerships with various virtual platforms, including social media and gaming.
“With DressX, we aim to enable an infinite sustainable metacloset for our lives in the Metaverse. Digital fashion is a visual language for communicating and creating bonds online, and we are excited to continue improving our technology, expand DressX’s presence on the fashion and web3 scenes, and introduce new utilities for digital wearables using augmented reality, machine learning, and blockchain,”said the COO and co-founder of DRESSX, Natalia Modenova.
DressX is one of the strongest and most known players in the digital fashion field. Since its launch in 2020, the company has partnered with numerous fashion brands and companies. For instance, in 2022, DressX developed the virtual version of Michelle Obama’s Inaugural Ball dress, designed by Jason Wu. The company also collaborated with American company GAP, Inditex’s brand Bershka, luxury fashion brand Dundas, PacSun, American Eagle Outfitters, and other labels.
In addition to its own NFT marketplace, DressX’s virtual clothing is available in Meta’s Avatar Store, on the South Korean metaverse platform Zepeto, and in Roblox.
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