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Herbert Smith Freehills has advised AirRobe on its Series Seed capital raise.
Firm: Herbert Smith Freehills (AirRobe).
Value: Undisclosed.
Area: Venture capital.
Key players: The Herbert Smith Freehills team was led by partner and head of venture capital Peter Dunne and solicitor Myra Beal.
Deal significance: AirRobe is looking to make the fashion industry more sustainable by engaging big brands in the circular economy through its re-commerce marketplace platform. Hannon Comazzetto launched the company after being exposed to the huge amount of waste in the fashion industry when she consulted with big fashion houses.
This new capital will be employed to launch a new product that provides a way for fashion brands and online retailers to access the re-commerce retail market. The round was led by early-stage venture capital fund Investible, with investors in the round including retail technology investor Paul Greenberg and San Francisco consumer business investor Brian Sugar.
“It’s great to be part of AirRobe’s journey and to have worked with the company on this exciting milestone,” Ms Beal said.
“These funds will help AirRobe to grow and become a game changer for the growing sustainable clothing market. We have enjoyed working with Hannon through the capital raising process.”
“AirRobe benefited from the Herbert Smith Freehills team’s industry expertise and commercial approach which helped to streamline the transaction,” AirRobe’s founder and chief executive, Ms Comazzetto, added.
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Tony Zhang
