After taking the runway at New York Fashion Week, fashion tech is making a play for the bedroom. A new collection of underthings and intimates startups are getting down to basics — and venture investors are seeing 50 shades of green.
It’s not a lot of money yet, but the surge in seed funding over the past two years indicates growing investor interest in tech-enabled basics brands. From Andreessen Horowitz to First Round, over 100 venture firms and angel investors closed deals for underwear startups since 2012, according to CrunchBase data.
“Underwear alone in the U.S. is a $15 billion-plus market per year in terms of revenue,” says Bryan Lalezarian, CEO of basics brand MeUndies.