Otrium, with its headquarters in Amsterdam, has just completed a fresh round of fundraising headed by BOND and Index Ventures. The company received a second investment from Eight Roads Ventures. It is anticipated that Amsterdam-based Otrium 120m Series C funding would lead to its entry into the US market, enable the development of more capabilities for unsold fashion, and facilitate the hiring of new staff.
Due to the transaction, BOND general partner Juliet de Baubigny will be joining the board of directors of Amsterdam-based Otrium 120m Series C Funding. Otrium might boost the outlet retail industry by connecting establishments that aren’t normally linked to online shopping.
With Amsterdam-based Otrium 120m Series C Funding, Otrium features relationships with notable companies including Karl Lagerfeld, Joseph, Anine Bing, Belstaff, Reiss, and ASICS, as well as 3 million users who have downloaded the app. Through Otrium, they are able to offer products from previous seasons while maintaining complete pricing, display, and visibility control.
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Otrium’s 120m Series C Funding in Amsterdam: A Detailed Analysis
The Amsterdam-based Otrium 120m Series C Funding has released a suite of services designed to aid in the forecasting and distribution of luxury goods. Otrium partners may use this system to get insight into what products are popular with customers and which ones aren’t, allowing them to better predict what will sell well in the future.
The end-to-end marketplace for seasonal clothing, Otrium, has announced the receipt of €102.3 million in Series C investment, the commencement of its operations in the United States, and the introduction of new features designed to minimise the future inventory of unsold clothing. The Amsterdam-based Otrium 120m Series C Funding claims to have more than 3 million users, over 300 fashion merchants, and revenues that have multiplied by a factor of three by the year 2020.
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Otrium Has Just Been Successfully Funded
The recent investment was spearheaded by BOND and Index Ventures. BOND is also a financial backer of both Nextdoor and Canva. Eight Roads Ventures continued participation in the round, and BOND general partner Juliet de Baubigny will be joining Otrium’s board of directors.
- Otrium will be able to expand its operations in the United States, develop its technology platform more rapidly, and place more people into positions thanks to the influx of capital.
- Through its efforts in tandem with the fashion industry, it helps guarantee that every item of clothing will be put to good use. The organization achieves this goal by assisting in the sale of finished products to satisfied customers.
- It also equips businesses with the resources to develop collections they are certain will do well. When luxury brands sell off their seasonal collections on Otrium, they keep all profits and decide how their surplus inventory is priced, displayed, and promoted. Only around 12% of all garments ever produced find buyers.
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Wrapping it Up!!
Amsterdam-based Otrium 120 m series C funding, now includes a feature that allows the fashion industry to examine historical demand to determine whether or not a given product has the potential to become an enduring symbol of a given brand.