H&M’s Investment Arm Just Took A Stake In AI Menswear Personal Shopper Service Thread
H&M Group’s venture capital brand, H&M CO:LAB, is investing in London-based e-commerce start-up Thread that combines algorithms and personal stylists to help men shop for clothes online. Thread has announced today that it has raised $22 million in Series B funding to expand its offering, including from the likes of Balderton Capital. This is the first time a fashion investor has taken a stake in the company, which launched back in 2012 with a mission to make it easier for men to dress well. “We have great investors in the tech and start-up world, and lots of individuals from the fashion world, but with H&M we get access to one of the best companies in the world at fashion retail,” said CEO and co-founder Kieran O’Neill. Read more at Evening Standard.
