Fashion Tech Lab Investment Fund was created by Miroslava Duma, the founder of the Buro 24 / 7 fashion information portal.
The fund will invest in startups that specialize in technologies in the fashion industry: the production of new materials, nanotechnologies, the study of innovative methods of processing fibers and fabrics. “First of all, Fashion Tech Lab is a socially responsible financing. We will also connect the developments of scientists and engineers with the fashion industry and act as an experimental platform within which these developments will be applied to clothing. Technological things should solve buyers' problems - and at the same time they will look modern, ”the Duma commented on the project.
The first projects in which the fund invested 50 of millions of dollars of investments were Diamond Foundry and Orange Fiber, which are looking for new ways to produce materials. Recently, Orange Fiber released a joint collection with the Italian brand Salvatore Ferragamo, the collection presented items from material made from recycled orange peels.
Fashion Tech Lab’s advisory board includes designer Diane von Furstenberg, former Net-a-Porter investor Carmen Basket and Eco-Age project founder Livia Firth.