Cycle Platform has announced the successful closure of a pre-seed round for a total amount of €500,000, led by a London-based Family Office, the investment platform Startupxplore, its technological partner GaleoTech, and ENISA.
Cycle Platform is an e-commerce for luxury fashion brands in which they offer a totally new consumption model for both the user and the textile industry itself. They offer new seasonal products for sale, giving the consumer the possibility of returning them at the end of the season, with the aim of extending the life of textile products as much as possible, guaranteeing their traceability, in order to certify their recycling at the end of the season
Achieving this milestone will allow the company to continue growing and simultaneously developing its two products: the front, a fashion e-commerce based on a new consumer purchase/repurchase model, and the back, its tech platform to help the fashion industry to identify every single garment in a unitary way when manufactured, to trace, and implement European regulations regarding the Digital Product Passport (DPP), "The prelude to an effective an necessary join between Primary and Secondary Markets, the only solution to reorganize the fashion industry towards true circularity, thereby solving the issue of textile waste", they declared.
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