Novelship has bagged US$9.5 million in its Series B funding round led by East Ventures, iGlobe Partners and GSR Ventures.
iGlobe Partners and GSR Ventures also participated in this round
Founded in 2018, Novelship initially started as Asia’s fastest-growing marketplace for buyers and sellers to trade 100% authentic sneakers, limited-edition apparels and exclusive physical and digital collectibles. Today, the company aims to become one of the leading fashion icons in Asia, as it claims its user base has doubled each year.
The startup is actively diversifying its collections to cater to a growing female market, significantly increasing women-centric sneaker SKUs by 100, enhancing inclusivity and affordability for all collectors. With a staggering 20 billion pairs of shoes produced globally in 2021, the industry's rapid growth has raised concerns about its environmental impact. As consumers accumulate extensive shoe collections, the resulting carbon footprint has also become equally substantial
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