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mmERCH Secures $6.4 Million Seed Funding Round
Blockchain-enabled Web3 fashion startup mmERCH recently announced its successful $6.4 million seed funding round, marking a significant milestone for the company. The funding, led by Liberty City Ventures, valued mmERCH at $25.7 million post-money.
Investors Backing mmERCH
mmERCH attracted a diverse group of high-profile investors for this funding round. Notable backers include Paxos CEO Charles Cascarilla, fashion designer Tory Burch, model Karlie Kloss, Web3 investor Mike Jacobellis, Red DAO, and investor Daniel Maegaard (Seedphrase). Additionally, 6529 Holdings LLC, Christie’s Ventures, and Flamingo DAO participated in the funding, with legal support from Dentons.
mmERCH’s Unique Approach to Fashion
Founded by Colby Mugrabi, mmERCH stands out for its innovative approach to fashion known as “neo-couture.” Each design is tailored for the individual wearer, emphasizing uniqueness and personalization. The brand’s upcoming collection will showcase pieces created using generative algorithms and AI, with each garment linked to a digital twin through blockchain technology.
Future Plans for mmERCH
Colby Mugrabi, Founder and CEO of mmERCH, expressed excitement about the brand’s future prospects. The funding will be used to enhance the brand’s technology stack, expand the engineering team, and develop new collections. Mugrabi envisions mmERCH as a pioneer in redefining the fashion industry, focusing on individuality, creativity, and community.
mmERCH’s commitment to merging AI and blockchain in fashion has garnered praise from investors and industry experts. Liberty City Ventures, the lead investor, sees mmERCH as a trailblazer in revolutionizing the fashion supply chain and customer experience in the Web3 era.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
