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Sustainable fashion community-based marketplace PopChill raises USD$ 2.2M Pre-Series A
PopChill, a Taiwan-based sustainable fashion e-commerce marketplace, founded by Andy Kuo and Kelly Liao, both known as the co-founders of KuoBrothers, announced the completion of a USD$2.2 M Pre-Series A round of financing. The round was led by AppWorks, with participation from CTBC Venture Capital, B Current Impact Investment, and Taiwan Culture & Creative Angels Investment.
Co-founders Andy Kuo and Kelly Liao are seasoned founders, with multiple exits under their belts, including KuoBrothers, one of the fastest e-commerce companies to reach an IPO in Taiwan. Launched in January 2022, PopChill is their latest endeavor that aims to create a sustainable community marketplace enabling users to buy and sell second-hand fashion and apparel, including clothing, shoes, bags, and accessories.
Recognizing the ESG trend and immense potential in the fashion industry to implement a circular economy model, PopChill aims to achieve greater sustainability through second-hand fashion and apparel, especially as more young adults place more value on the importance of environmental and social impact in their lifestyles and consumer choices. Without meaningful change, it is estimated that by 2050, the fashion industry is projected to contribute up to 26% of global carbon emissions, consume 300 million tons of non-renewable resources, and discharge over 22 million tons of plastic microfibers into the ocean each year.
“We believe in a more sustainable future for fashion—where clothing can be repurposed and move away from the wastefulness that has defined the fast-fashion era—and help more people look good while also doing good through their fashion choices,” said Andy Kuo, co-founder of PopChill. “Through our community, we are applying the circular economy to the world of fashion, bringing economic value to consumers while promoting more sustainable practices in the fashion industry.”
In PopChill, buyers can discover interesting outfits and styles and make purchases on the site, promoting sustainability in the clothing industry and enabling consumers to purchase high-quality fashion and apparel on a budget. Clothing that would have otherwise lay idle in closets or discarded can be reserved by buyers with PopChill. With a focus on user-generated content, sellers are able to post content and build a community following, making it easier to reach potential buyers and set their own prices.
As part of the platform launch, PopChill has recruited over 500 sellers and features 10,000 items available for purchase, providing lots of selections for the new users. There is no charge for sellers to upload products. Starting with women’s fashion, PopChill is currently available for users by invitation with 8,000 initial sign-ups, and plans to open up to the general public and expand across Southeast Asia soon.
With this round of financing, PopChill will reinforce its core business model to meet the needs of fashion buyers and sellers, accelerate user acquisition, and achieve breakeven within two years of launch. The company will focus its efforts on Taiwan’s vibrant fashion e-commerce market.
“We are thrilled to be backing Andy and Kelly’s latest venture to transform the fashion industry,” said Nice Cheng, Partner of AppWorks. “With our investment focus on backing exceptional founders paired with PopChill’s strong emphasis on sustainability and new economic models, we are excited to support the PopChill team in this endeavor.”
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