Sepiia, a Spanish company founded in 2016 and specializing in the production of smart fabrics sold both through third parties and under the emblem of its own clothing brand, has managed to reach in a little more than 24 hours the goal it had set for the funding round it had opened for small investors.
The company raised the funds through a crowdfunding campaign on the specialized platform La Bolsa Social, which will now be expanded due to the great interest in the campaign.
As the management of the emerging Spanish company explained two weeks ago, Sepiia has just managed to close a final round of financing with a group of private investors, raising a total of 1.9 million euros. This amount represented 90 percent of a financing round, of which the company decided to reserve the remaining 10 percent to be able to provide a place in its share capital to a number of small savers and investors interested in investing in its business model.
An option that has been chosen by more than 60 small investors who have participated in the company's first crowdfunding campaign with a minimum sum of 1,125 euros. A sum that in just over 24 hours has allowed the company to reach its goal of raising 200,000 euros from small investors, which has finally led them to expand their goal, now estimated at 400,000 euros.
They hope to reach this amount before the deadline for closing this crowdfunding, which is set for April 23, at which time they have raised a total of 282,581 euros in donations.
Two New Stores in 2023
Among the details linked to this operation, it’s explained that in order to articulate the investments, Sepiia has set up a subsidiary company, on which it will proceed to carry out an operation of simultaneous capital reduction and increase, once the investments of the investors who have contributed their capital through the crowdfunding platform have been formalized. In such a way that the investments of the participants will be allocated to the special purpose vehicle from which the funds will end up being invested in Sepiia's capital.
As for the relationship and the destination for which the new funds raised will be used, the total of the round, i.e. the sum of the capital contributed by both private and small investors, will be used to finance investments in improving the efficiency of manufacturing processes, the development of the quality and innovation department, to boost brand recognition in the market and among consumers, and to drive the company's growth through both physical and digital channels.
These goals include the opening of two new stores in Valencia and Barcelona, the development of a collection aimed at the B2B market, further development of the company's implementation in the wholesale channel, investments in new technology that will enable the company to diversify and grow in new product categories, and the development of a garment rental and repair system. This initiative, about which few other details have been provided by the management of Sepiia, aspires to close this new 2023 financial year with a turnover of around 6 million euros.
A New Way of Understanding Textiles and Garment Creation
The B Corporation brand has set out to revolutionize the world of fashion through its smart garments and will continue to develop new technological proposals betting on sustainable fashion and responsible use. The company is always committed to the environment by recycling its processes and materials. With this approach, the company has managed to gain a foothold in the Spanish market, thanks to a range of garments with "stain and wrinkle resistant properties" and timeless basics "made with a fabric that requires less washing and ironing, "designed to last".
Sepiia envisions a new way of understanding the textile universe and has created the garment of the future. Since the brand started, it has managed to save more than 303,000 kilos of carbon dioxide (CO2) and more than 31 million liters of water or, what is the same, enough C02 to drive around the world 39 times by car and fill 13 Olympic swimming pools.
This philosophy has materialized in several commercial milestones such as the sale of 40,000 garments this past year alone and the opening of its first physical store.