Relove, a leading technology startup that powers fashion brands with resale tech & digital factory outlets has secured $700K in pre-seed funding.
Hearth Ventures is the lead investor in the round of investment, with Blume Ventures and angel investors Anita Dongre, Aakrit Vaish, and Utsav Agarwal also taking part, as per reported by Apparel Resources.
Relove’s objective to facilitate circularity in fashion is reportedly being scaled up with the aid of this fundraising round.
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Kirti Poonia, Co-founder, Relove, said, “This funding is proof that our solution, while sustainable for the planet, also has a profitable growth model for us, our brands and their consumers. Through this funding, we are going to ensure scale, by normalising having a resell button on every website.”
Relove, which was founded in November 2021, develops resale technology that is intended to lessen fashion waste while boosting brand loyalty and client acquisition.
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Shefali Chhachhi, Co-Founder & Managing Partner at Hearth Ventures said, “Hearth Ventures is delighted to partner with the Relove team as lead investors in their pre-seed round raised in Q3 2022. This investment underlines our focus on circular economy and the need for greener lifestyle choices. Our decision to invest in Relove was driven by both the need for such a solution for fashion and lifestyle brands as well as a strong conviction in the founder’s ability to solve effectively for this challenge, given their experience, passion, grit and execution focus.”
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Prateek Gupte, Co-founder, Relove, said, “We’re excited to have found the right partners to fuel the growth of circularity in India and tap into its enormous potential. We aim to switch the narrative of sustainability from a burden on the company to a growth channel.”