London-Based Threads Raises $20 Million in Fresh Funding Round
London-based women’s wear company Threads has reportedly raised funds amounting to $20 million in a fresh funding round. The funding round was led by fashion and millennial-focused fund C Ventures. It also saw the participation of Highland Europe (which invests in Matches Fashion, among other related businesses).
The funds so raised will be utilized by Threads for the expansion of its business across the board. Also, a part of the funds will be deployed in the hiring of more stylists and more engineers to build tech which would help the operation run smoother. Other creative staff will also be hired to boost up the operations. At present, 90 people work in the company.
“Tech has moved quickly and we are starting to test and how we will integrate more AI,” founder and CEO Sophie Hill sa...