SYKY Completed $9.5M Series A Funding

Published on: 23.01.2023
SYKY Completed $9.5M

SYKY, a next-generation luxury fashion platform, digital, physical, and augmented worlds, has completed a $9.5 million Series A funding round.

SYKY has completed a $9.5M Series A Funding round led by Alexis Ohanian’s firm Seven Seven Six. Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures also contributed to the round.

Introduction

SYKY is building the future of fashion with a blockchain-enabled luxury platform that will serve as an incubator, marketplace, and social community for the next generation of designers and consumers, led by Alice Delahunt, the former Chief Digital & Content Officer at Ralph Lauren and Digital & Social Marketing Director at Burberry.

This round of funding will help Delahunt realize her vision and mission of empowering the digital-first generation to create, curate, share, and trade their fashion collections.

Management Quote

“There is limitless potential with Web3 and fashion’s place in this future is no exception,” said Alexis Ohanian. “The ideals of fashion can bring to bear the best virtues of an open internet and creative expression. With culture so greatly influenced by the runway, digital fashion will expand opportunities for creatives and consumers. We invested in Alice and SYKY because we believe in Alice’s vision to build the leading fashion platform and community for the next generation of designers and consumers.”

A recent report from Roblox and Parsons School of Design examining digital fashion and self-expression trends found that 70% of Gen Z’s physical style is influenced by their digital style and that nearly half of Gen Z look at digital fashion to experiment with new styles in digital and real life. Additionally, the trends report noted that nearly 75% of Gen Z said they would spend money on digital fashion.

“Fashion is on the verge of a renaissance, powered by technology and the next generation of creators,” said Delahunt. “With SYKY, we aim to build a platform that equalizes creative opportunity for aspiring designers, showcases the best of fashion from emerging and established brands, and cultivates a community passionate about the evolution of fashion.”

About The Keystone

Along with this achievement, SYKY will release The Keystone, its first NFT, on January 20, 2023. 50 Keystones will be awarded to aspiring designers as part of the larger release and in the spirit of SYKY’s mission to open access to creative opportunity. The Keystone is a membership pass for fashion lovers, leaders, and collectors who want to shape fashion’s future in digital, physical, and augmented worlds.

Keystone members will have access to SYKY’s membership space exclusively. As well as special access to digital and physical fashion events. Keystone members will also receive curated insights and in-depth reports in fashion and technology, as well as access to a network of like-minded creatives for collaboration and mentoring. Holders will also be given first access to designer collection drops. As well as advance notice of SYKY alpha and beta releases and partner projects.

About SyKy

SYKY is shaping the fashion industry’s future. They believe that technology has the potential to be a great equalizer. With the next generation of designers being digital-first and revolutionizing design in digital, physical, and augmented worlds. At that intersection, SYKY is constructing.

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SOURCE

https://www.prnewswire.com/news-releases/web3-fashion-platform-syky-closes-9-5m-series-a-funding-round-led-by-alexis-ohanians-seven-seven-six-301723125.html

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