Startupbootcamp FashionTech, a B2B accelerator in the FashionTech space, has cashed an investment round from Italian B2B innovation platform Gellify and Azimut DigiTech Fund.
The vehicle, managed by Azimut Libera Impresa sgr, specializes in investments in software producers for B2B business and was launched in June 2020 in partnership with Gellify, in which Azimut had invested in October 2019 as lead investor of a $17.7 million (€15 million) round. Recall that Azimut Digitech Fund and Gellify last week had also entered the capital of Surge, a SaaS-type software that enables the first collaborative data management based on blockchain.
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Innovative companies in the fashion sector are targeted by Startupbootcamp FashionTech
Returning to Startupbootcamp FashionTech, this is the first vertical acceleration program for the fashion and textile sector launched precisely by Startupbootcamp, one of the largest startup accelerators in the world active in various sectors, including financial services, energy, health, media, commerce, with 15 hubs present on all continents, a total of 20,000 annual applications and a portfolio of investments in over 1,000 companies.
Based in Milan, the program will run for 3 years and accelerate 30 high-potential startups from around the world to facilitate their meeting and doing business with leaders in the fashion and textile industries. The path will be carried out in collaboration with the biggest companies in the fashion world, an international network of academic and private accelerators, and a global network of mentors and investors who will support the startups and help them in their commercial and financial development.
Gellify had already been partnering with Startupbootcamp FashionTech for about a year to support the accelerator in researching and analyzing B2B technology startups and providing a viable response to the fashion and textile industry’s pressing need for increasingly efficient and sustainable sourcing and production. By investing in the accelerator, Gellify and Azimut Libera Impresa sgr will indirectly obtain stakes in the accelerated companies focused on B2B applied to the fashion industry and will start operating in a new sector compared to those in which they are already active.
Lucia Chierchia, managing partner of Gellify, commented: “The partnership between Gellify and Startupbootcamp FashionTech aims to identify and accelerate innovative startups for the textile sector, with a focus on manufacturing that gives new attention to sustainability.Innovative startups offer new technologies and business models that allow us to redesign the textile economy based on the principles of the circular economy. This transformation requires system-wide change and therefore unprecedented engagement, collaboration and innovation. We are partnering with a globally recognized vertical accelerator precisely to bring our digital expertise to B2B and turn the textile industry around.”
Alceo Rapagna, ceo of Startupbootcamp Italy, added: “Gellify’s experience in B2B and Industry 4.0 technologies complements our focus on digital and sustainability, for a joint offer of unprecedented innovation for both startups and fashion companies.”
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