Unirec Secures Rs 1.5 Crore in Seed Funding for Fashion Brand
- ByStartupStory | January 9, 2024
Sustainable fashion brand Unirec has announced securing Rs 1.5 crore ($190,000) from BeyondSeed, a prominent Singapore-based seed fund, in its recent seed funding round. The Mumbai-based company disclosed this development in a press release on Monday, emphasizing that the infusion will significantly aid their market expansion, research, and the creation of pioneering sustainable fabrics.
CEO and founder of Unirec, Kapil Bhatia, highlighted, “Our primary objective is rapid scaling – both online and offline. This funding round propels us towards our immediate target: manufacturing and selling 25,000 garments per month.”
During the last 18 months, Unirec has successfully produced 40,000 garments, with over 25,000 of these crafted from recycled polyethylene terephthalate (PET) bottles. The brand’s innovative approach involves converting ten plastic bottles into a single garment, offering a range of men’s and women’s fashion wear.
Kuldeep Mirani, co-founder and CEO of BeyondSeed, expressed enthusiasm about the collaboration, stating, “This strategic partnership between Unirec and BeyondSeed underscores the commitment to turning the global problem of plastic waste into an opportunity. We are excited to support not only a remarkable concept but also a highly skilled and passionate team with a vision to address a globally significant concern.”
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