Los Angeles, August 25, 2022 /CNW/ — VIAVIA Announces New Video-First E-Commerce Platform $8 million A seed round to launch the first fashion retailer for Gen Z shoppers. The funding was jointly led by New Enterprise Associates (NEA) and Basis Set Ventures Seeds of ExarBackend Ventures, and Andrew Ng AI fund. Funding is $1.15 million Pre-seed round announced by the company February 2022VIAVIA aims to modernize the fashion e-commerce experience by combining creator-driven live and short-form video content with an AI-powered end-to-end technology infrastructure for the fashion supply chain.
Carmen ChanGeneral Partner and Head, Asia New Enterprise Associates (NEA) said: AsiaI am particularly fascinated by the role that technology has played in “exporting” content and commerce trends. We’ve seen how Gen Z engages with social media on TikTok. VIAVIA is poised to drive similar behavioral change in the e-commerce space. ”
VIAVIA co-founder and CEO Sixuan Li (aka Six) said: “Export-focused Asian supply chains have skewed traditional timelines from new trend concepts to wearable apparel. We expect brands to communicate through authentic, creator-driven video – content first.” VIAVIA believes existing e-commerce platforms are ill-equipped to accommodate this shift in consumer behavior. and plans to change this paradigm by representing creators and influencers through its in-house talent team and bringing brands to heavily index video and live streaming. story to life.
In addition to its e-commerce platform, VIAVIA provides the latest technological infrastructure for fashion brands and supply chains, including Made in. ItalyVIAVIA believes ItalyIt accounts for about 70% of luxury apparel manufacturing. Luigi (Gigi) KatchaVIAVIA Co-Founder and Head of Supply Chain at the company said:Italian Apparel manufacturers are among the best in the world at their technology, but with limited access to liquidity and rather outdated business practices, most manufacturers stick to a small number of proven and true clients and the rest of the time Leaving the facility idle. We can assume that with the right tools, most manufacturers can increase their output by 50% without additional capital investment…there is a lot of room for optimization. “
VIAVIA’s technology solutions increase order flow to local manufacturers, reduce costs for brands and shorten production lead times. Andrea PasinettiVIAVIA Co-Founder and Head of Engineering, said: Italy from. Our mission is to use technology to remove friction from the creative process at every level of the fashion industry.” Europe Brought in record amounts of capital flows to global e-commerce supply chain and logistics companies, the latter of which grow to 3 trillion dollars 2028.
Xuezhao Lan, Founder and Managing Partner of Basis Set Ventures, said: From manufacturing to content to software engineering, every layer of this process is second to none. Fashion tech is poised for a sea change, and this team is the one to do it. “
About New Enterprise Associates
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformative businesses across multiple stages, sectors and geographies.Almost $24 billion With cumulative committed capital since the company’s inception in 1977, NEA invests in technology and healthcare companies at all stages of the company lifecycle, from seed stage to IPO. The company’s long track record of investment success includes his IPOs of over 230 portfolio companies and over 390 mergers and acquisitions.
About Basis Set Ventures
Basis Set invests in early-stage startups that are using artificial intelligence to make people more productive across four themes: infrastructure scaling, intelligent collaboration, automated workflows and autonomous machines. .
VIAVIA is a video-first online fashion retailer platform for Gen Z consumers. As an online shopping destination, VIAVIA offers a curated selection of culture-inspiring brands from around the world, along with exclusive Italian-made fashion and streetwear lines. The platform empowers creators by leveraging live and short-form video content to create modern fashion shopping experiences backed by inspiring styling advice. In addition to shopping platforms, VIAVIA is building a modern technology stack for fashion brands, ranging from AI-powered product lifecycle and supply chain management to retail integration.
contact: Jennifer Walker
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