UK-based luxury fashion start-up platform Cult Mia has raised a funding worth US $ 5 million after closing its seed extension funding round.
Nina Briance owned Cult Mia made a major feat with prominent brands like H&M Group ventures, Fuel Ventures, Morgan Stanley, and David Wertheimer. Previously in 2023, the luxury fashion platform had raised a sum of US $ 3 million worth of capital and closed its seed funding round in November. The seed extension added another amount of US $ 2 million to the funding amount raised by the luxury platform.
As per reports, Briance has said the funds would be used for the brand’s global reach and expansion plans. Cult Mia has called itself “the luxury shopping destination of the future” and has consistently shown a positive growth pattern each year. Additionally, the funds would also be extended toward high-growth markets like the US and Middle East.
She has expressed her gratitude towards the esteemed group of investors and said that she is overjoyed to see the growing vote of confidence from such prominent names. She further added, “Cult Mia’s growth and the loyalty we’ve seen from our customers and brand partners alike reaffirm our belief in our platform’s potential to become the independent luxury fashion destination for the world.”
The luxury fashion brands was started in 2019 and it makes evening and ocassionwear garments. The brand also made a 200 per cent growth in the current quarter in comparison to this previous year’s sales quarter.
