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Start-up Aday nets $2m in funding round

aday screenshot

Technical clothing start-up label Aday has secured $2m (£1.5m) in its latest funding round after scoring investment from businesses including H&M.

Co-founder Nina Faulhaber told Drapers that the womenswear label, which uses recycled polyesters and polyamides in a number of its garments, plans to use the investment to fund its expansion.

This will involve doubling its existing team by the end of next year at its offices in London and New York, particularly with marketing and graphics engineer hires.

It also aims to add showroom capabilities to its London office at Somerset House, which is currently staffed by two people.

The brand’s other office in SoHo, New York, employs eight people as well as seven freelancers and already operates a showroom. Garments are designed at both locations.

The funding round included investment from H&M’s venture capital arm H&M CO:LAB, consumer tech fund ADG and venture capital firm SoGal Ventures.

Faulhaber said the business has seen 300-400% sales growth in London and New York during the calendar year. She declined to disclose further details on financial performance.

She said: “Things have really started to take off for us. The investment will focus on our product, people and marketing.

“We’re bringing something different to the table when it comes to technical clothing. There are [very few] brands out there that provide activewear with beautiful designs that are versatile and can be worn anywhere.”

Aday is expanding its shipping destinations to Sweden, France and Singapore next year. It currently ships to Germany, Canada, Australia and Hong Kong as well as London and the US.

It opened a pop-up on Bedford Avenue in Williamsburg, New York, last week, after launching its first pop-up on Manhattan’s Elizabeth Street in June.

The brand was jointly founded in 2015 by Faulhaber and Meg He. It partnered with Jigsaw earlier this year on a capsule collection.

 

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