You wouldn’t be crazy if you thought fashion tech was flush with cash. Two notable funding opps on the radar this week: one comes from a fashion tech company aiming to be oh-so-much more, while the other is a first from one of fashion and technology’s premiere events.
First up, there’s The Fashion Pitch from Decoded Fashion London. Billed as the first and only fashion and retail pitch competition, the live showdown will feature 10 early stage fashion startups, who’ll go before a panel of industry expert judges. To the winner goes a $50,000 investment, courtesy of Index Ventures. Decoded Fashion Founder Liz Bacelar reached out last week about the competition and says there’s still time for interested startups to get in the mix. Applications will be accepted through Oct. 20.
Next is a much less buttoned-up, but far more lucrative opp. Announced last week, the Restart Fund from San Francisco-based Twice may live on a web site as casual looking as my high school computer programming class assignments, but the money’s pretty serious: $1 million to a qualified team of three or more. Yes, there are catches. Like you’ve got to come from a “Y Combinator, 500 Startups, or TechStars company or similarly qualified team,” and sufficiently dazzle them, of course, beyond that. It’s an interesting and out-of-the-box approach created to combat the Series A crunch encountered by the many talented engineers and design teams who’ve chosen to strike out on their own instead of heading in-house to existing startups. The offer stands either through the end of the year or until the company makes an acquisition, whichever comes first. And in keeping with the always-on ethos around these parts, they promise to get back to you within 24 hours.
More digital style news…