TLDR:
- RareBreed Ventures provided seed funding to unspun, a company developing 3D textile-weaving technology.
- Black VCs are carving out a niche at the intersection of fashion, hair, beauty, and sustainability.
Black venture capital firm, RareBreed Ventures, made a significant impact in the fashion industry by providing seed funding to Oakland-based unspun, which developed 3D textile-weaving technology. This technology allows for on-demand production, reducing textile waste and enabling smaller orders while cutting down production lead times to days. The success of unspun, which recently raised $32 million in a Series B financing round, showcases the potential for innovative solutions that merge fashion and sustainability.
RareBreed Ventures has also invested in companies like Thousand Fell, which produces sneakers from food waste and recycled materials, and Halo Braid, an automated hair braider for Black hair. The firm’s focus on sustainability and inclusivity has resonated with consumers, particularly curvy Black female consumers who have struggled to find well-fitting clothing.
Black venture capital firms led by women, like Serena Ventures, are also making strides in the industry. Serena Ventures has invested in companies like Parfait and Calico, which use AI algorithms and smart production technology to customize wigs and enhance production efficiency, respectively.
Overall, the emergence of Black VCs at the intersection of fashion and sustainability highlights the importance of diversity and cultural competency in driving innovation and impact in the industry.
