Funding boost for e-tailor

 

institchuOnline ‘e-tailor’, InStitchu, has secured venture capital funding from Disruptive Capital, the technology focused arm of boutique corporate advisory and investment house, Aura Capital Group.

InStitchu, founded by entrepreneurs Robin McGowan and James Wakefield in 2012, enables customers to design made to measure suits, shirts, and accessories online. The minority stake values the Sydney-based startup at $2.5 million.

Since the pureplay’s launch, more than 50,000 suits have been designed using InStitchu’s online tools.

McGowan said the funding would help them scale the company across verticals and also internationally.

“We have experienced strong organic growth, with word of mouth buzz making 2013 a breakout year for InStitchu,” McGowan said.

“We chose to partner with Disruptive Capital due to the immense experience they have scaling online businesses. We look forward to working with Calvin Ng, Adir Shiffman, and the rest of the Disruptive team to make InStitchu the number one place for tailored, affordable suits and business attire.

“While the bootstrapped phase of the business has been exciting, we’re now looking forward to having the capital and expertise to grow our local team, continue to innovate, make strategic acquisitions, and expand internationally.

“We have a number of exciting announcements to make in the coming months, so watch this space!”

Calvin Ng, director, Disruptive Capital said the company’s InStitchu investment stays true to its core  philosophy of backing true entrepreneurs.

“Domestically InStitchu is the clear market leader with unique intellectual property powering its products, customer satisfaction and engagement,” Ng said.

“We see a huge market opportunity and look forward to working with the founders to take InStitchu to the next level.”

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