The fashion and retail industry is rapidly changing and companies are focusing majorly on digital platforms, AI analytics and processing technologies, among others.
Fashion tech Venture Capital firm Lyra Ventures launches its second fund with investments from TSI Holdings, one of Japan’s largest fashion corporate. This move perfectly tunes with Lyra Ventures’ existing partnership with ZOZO Co. Ltd., which is a Japanese e-commerce operator.
The announcement by Start Today Ventures, as the Lyra Ventures was known previously, was followed by the company’s recent investment into the Neighbourhood Goods – a US-based retail platform.
The new funds provided by TSI Holdings will benefit company in terms of global expansion. Lyra Ventures focuses on widening its horizons to Southeast Asia in particular – the US, Israel and Europe.
The Singapore-based early-stage venture capital firm, however, did not reveal any financial details.
With a motive to support companies across the fashion value chain, including new-retail models, SaaS businesses and materials innovation, the fashion tech-focused company was founded in 2017.