Digital showroom platform Ordre raises €7.5 million
British fashion tech company Ordre, an online showroom platform serving department stores, multibrand retailers and luxury pure players, has announced a successful funding round worth €7.5 million ($9 million) to finance its expansion. Ordre also heralded the launch of a new product verification platform and app called Authentique.
Following previous rounds that involved Asian investors like Alibaba and Chailease Corporation, and UK investors like SVK Crypto, the latest funding round was led by Australian venture capital firm Morgans Financial Limited, backed among others by investment fund Alium Capital and London-listed NFT Investments PLC.
Ordre is currently working with labels and distributors across 93 countries, among them leading names like Louis Vuitton, Loewe, Chloé, Isabel Marant, Alexander Wang, Tory Burch and Thom Browne. The company was set up in 2014 by husband-and-wife team Kirsten and Simon Lock, and currently has offices in London, Paris, Milan, New York, Tokyo and Sidney.
“[Ordre] has identified a range of opportunities as a result of the acceleration of our technology platforms during the pandemic, as the fashion industry is further digitalising both B2B and B2C operations. On top of an annual revenue growth of 325%, the new funds are going to see us expanding our established technology platforms Ordre and Orb360, as well as launching new technology platform Authentique,” said Simon Lock.
Authentique is set to be deployed in 2022, and will combine blockchain technology, visual recognition and NFTS to help labels fight against counterfeiting. It will add to Ordre’s suite of products that includes digital showroom Ordre Virtual, and the Orb360 platform for virtual 360º product presentations.
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