March 14, 2024
mmERCH, a blockchain-enabled Web3 fashion startup based in New York, has raised $6.4 million in a seed funding round. The investment was led by Liberty City Ventures, with additional support from 6529 Holdings LLC, Christie's Ventures, and Flamingo DAO. This funding round brings mmERCH's post-money valuation to $25.7 million.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
mmERCH | Mar 14, 2024 | $6.4M | Seed | $6.4M | Liberty City Ventures | Blockchain, Fashion |
Established by Colby Mugrabi, mmERCH blends art, fashion, and technology to create unique clothing collections. The company uses generative design to produce one-of-a-kind pieces, referred to as 'neo-couture.' Each item in these collections offers both digital and physical benefits and is tied to a digital twin on the blockchain, ensuring authenticity and uniqueness.
The inaugural collection from mmERCH is set to be released in April 2024. The brand targets individuals who are interested in the intersection of art, fashion, and technology. The generative algorithms used in creating these items are complemented by blockchain integration, which verifies the scarcity and authenticity of each piece.
The seed funding round saw participation from a diverse group of investors, including Charles Cascarilla, CEO and co-founder of Paxos; Web3 investor Mike Jacobellis; collector and investor Daniel Maegaard (Seedphrase); American entrepreneur and model Karlie Kloss; luxury fashion designer and philanthropist Tory Burch; and the Web3 fashion consortium Red DAO.
The funds will be used to enhance mmERCH's proprietary technology, expand the engineering team, and develop future collections. The company's approach aims to revolutionize the fashion industry by integrating blockchain technology and artificial intelligence to create unique clothing items that foster self-expression.
About mmERCH:
mmERCH is a blockchain-enabled Web3 fashion startup that specializes in creating unique clothing collections combining digital and physical elements. Using generative design and blockchain technology, mmERCH focuses on individuality, creativity, and community in its fashion solutions.
Website: https://www.mmerch.xyz/
X Account: https://x.com/mmerch
X Followers today: 2,550
Investor: Liberty City Ventures
Liberty City Ventures is a venture capital firm that invests in early-stage technology companies, focusing on projects within the blockchain and cryptocurrency sectors.
Location: New York, New York, United States
Website: https://libertycityventures.com/
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