Sydney based online tailoring startup InStitchu has announced that it has secured venture capital funding from Disruptive Capital, the technology focussed arm of Aura Capital Group.
While the actual funding amount is undisclosed, the minority stake values the Sydney-based startup at A$2.5 million (US$2.37 million).
InStitchu, founded by entrepreneurs Robin McGowan and James Wakefield in 2012, enables customers to design made-to-measure suits, shirts, and accessories. InStitchu claims that more than 50,000 suits have been designed by customers using the online service to date.
Robin McGowan said the funding would help them scale the company across verticals and also internationally.
“We have experienced strong organic growth, with word of mouth buzz making 2013 a breakout year for InStitchu. We chose to partner with Disruptive Capital due to the immense experience they have scaling online businesses. We look forward to working with Calvin Ng, Adir Shiffman, and the rest of the Disruptive team to make InStitchu the number one place for tailored, affordable suits and business attire. While the bootstrapped phase of the business has been exciting, we’re now looking forward to having the capital and expertise to grow our local team, continue to innovate, make strategic acquisitions, and expand internationally.” – Co-Founder Robin McGowan
Although Institchu is primarily an online store, the company also has a physical boutique for consultations in Sydney. The new funding injection will allow the team to explore physical premises in key locations.
There are two very clear channels for us, online and offline. We’re looking to open up physical premises in Melbourne and Brisbane, and possibly across the nation. Internationally we’ll be looking to replicate exactly what we have going here, including the store, Wakefield told StartupSmart.
The idea is not new or noble though. Exactly one year ago, we covered a similar startup Bleu Flamme, which allows you to customize your shirt and get it delivered at only $99 per piece. Unlike InStitchu, which focuses on both tailored suits and shirts, Bleu Flamme only focuses on tailored shirts, and has an “Auto Size Me” feature, which automatically knows all your measurements based on your weight, height, and waist size.