Digital Fashion Company DressX Raises $15M — Retail Bum

Digital fashion company, DressX, has secured $15 million in funding to make investments to build its digital prowess and revamp its platform.

The funding round was led by Greenfield and saw participation from Warner Music, Red Dao, Slow Ventures, The Artemis Fund, as well as other investors.

With the funding under its belt, DressX aims to scale its vision for fashion’s future, ensure digital fashion assets’ interoperability, and enhance the performance of its app and non-fungible-token (NFT) marketplace. Additionally, the company plans to grow its community and partner with social media, gaming, and virtual platforms to become the go-to provider for digital fashion in the metaverse.

Since being founded in August 2020, DressX has created and sold digital clothing and accessories, building a catalog of over 3,500 digital items available via the DressX library on its website and app. Buyers today can use these items in augmented reality, photo dressing, video calls, and on avatars in Decentraland and Ready Player Me. The garments are also available on external marketplaces in virtual worlds such as Roblox, Meta (Facebook, Instagram, WhatsApp, and Horizon Worlds), and Zepeto, and will soon come to Snapchat.