While leather is considered to be ethical since the source of hides is from animals already in the food chain, the leather production process is both chemical and water-intensive, and the byproducts of tanneries have significant environmental ramifications. While vegan leather is being touted as a more sustainable alternative, vegan alternatives use plastic compounds that are petrochemical-based and dependent on fossil fuels. TomTex, a Brooklyn-based biomaterials startup, has developed a leather alternative that’s both ethical and truly sustainable. The company uses a proprietary process that extracts a biopolymer, chitin, from the shells of discarded seafood and mushrooms and then combines this with coffee grind waste to develop a near-leatherlike textile that can be customized to customer requirements. The resulting materials are all durable, 100% biodegradable, plastic-free, and do not require tanning or chemical-intensive dying. TomTex, founded in 2020, is refining its formulations and process, scaling its production capacity, with plans to launch an MVP mid-year with its first commercial products available in September. AlleyWatch caught up with TomTex CEO and Founder Uyen Tran to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…
Luxury
JOOR Raises Another $46M for its Wholesale Management Platform That’s Powering $1.5B+ in Transactions Every Month
The pandemic forced nearly every industry to modernize. For the wholesale industry, the shift was embodied by the adoption of digital solutions that the industry had previously shied away from. With lockdowns shutting down showrooms and tradeshows, two of the primary mechanisms for B2B wholesale commerce to do business, digital platforms that replicated the in-person experience thrived. JOOR is a wholesale management platform and marketplace that connects retailers, vendors, and brands for fashion, luxury, and home goods. The all-in-one platform provides a seamless virtual showroom experience and handles discovery, transactions, and payments. There are over 12,500 brands and 325,000 retailers transacting on the marketplace currently with no signs of slowing down. AlleyWatch caught up with CEO Kristin Savilia to learn more about how the pandemic resulted in an enduring behavioral shift in the wholesale space, the company’s strategic plans, latest round of funding from investors that include Macquarie Capital Principal Finance, ITOCHU Corporation, Battery Ventures, and Canaan Partners.
Studs Raises $3M to Modernize the Ear Piercing Experience
This isn’t an arbitrary list- malls, Claire’s, tattoo parlors, a friend’s house, and jewelry stores. It’s the list of common places people go to get their ears pierced. Studs is on a mission to be the top of mind resource and retail brand for those getting their ears pierced. Operating out of its first location in Nolita, […]
KOIO Raises Another $6M For its Luxury Sneaker Brand
AlleyWatch chatted with cofounders and co-CEOs Johannes Quodt and Chris Wichert about KOIO, the inspiration for the brand, the luxury footwear market, and the company’s most recent round of funding, which brings the company’s total equity funding raised to $10.3M. Who were your investors and how much did you raise? This is a rolling from our first series A where […]
Modern Picnic is the Chic Alternative to Lunch Boxes for Women
No matter how old you are, it seems no one can truly outgrow the lunchbox, and Modern Picnic is the contemporary lunch bag for sophisticated women who care equally about the food inside as they do about the aesthetic and style of the accessory holding it. The company’s line of lunch bags is made with […]
AUrate Raises $13M for its Elegant Direct-to-Consumer Gold Jewelry Brand
It’s a quintessential New York story. Two founders were at brunch discussing their discontent with the jewelry standards – low quality, overpriced “gold” jewelry that had been turning their fingers green. The duo, who met while at graduate school at Princeton, set out to turn the jewelry marketplace upside down by launching AUrate in 2015. Founded […]
JOOR Raises Another $16M to Expand to the Second Largest Luxury Market
Currently being used by over 200,000 retailers and over 8,600 brands, JOOR is the leading wholesale platform that connects brands and retailers. Launched in 2010 by Monica Bijoor, JOOR recently closed a $16M Series C round led by ITOCHU with participation from existing investors Canaan Partners and Battery Ventures. Already in 144 countries, JOOR plans to […]
Rebag Raises Another $25M to Be The Go To Destination for Buying And Selling Luxury Handbags
Keeping up with fashion trends can feel a lot like keeping up with the Smiths, but certain luxury items will stay in fashion forever – especially if they are coveted products like the Hermes Birkin. So, Rebag has taken this mentality and translated it into a thriving “seller-first” destination for buying and selling luxury handbags. […]
The Laundress Just Sold to Unilever for $100M and Never Raised a Single Dollar of VC Money
Not a single dollar. Zero, nada, nil…
This NYC Startup is the Digital Concierge for Fine Jewelry
Gifting jewelry is a difficult task because there are tons of options and forks in the road. Thankfully Best Kept has created the digital concierge service that makes giving jewelry as a gift seamless and easy. Clients are paired with expert jewelry stylists that curate a selection of pieces based on a full-fledged customized analysis, […]
Portion Raises $5.5M to Become the Go-To Auction House for Artwork and Collectibles
This an exciting time for creatives everywhere because new applications for technology applications are creating an unprecedented space for innovation and engagement, and Portion is one of those companies. This digital auction house is built on Ethereum and IPFS and creates direct access between artist and collectors. This method provides artists with a new way […]