Metaverse startups are forging ahead with innovations and boosts from investors.
F&S Holdings, a Korean fashion metaverse mall platform company, based on style tech (3D/VR/AR), has attracted 10 billion won ($8.2 million) in Series B investment. F&S Holdings is a developer and operator of fashion style tech platform ‘FASSKER.’
In this round, a total of six investors participated, including DS Asset Management, Union Investment Partners, PNP Investment, and existing investment companies, Open Water Investment, NextG Investment, and Win Best Venture Investment.
Rooting for digital fashion
F&S Holdings was established in 2018 with the goal of providing a service that enables fashion companies and individuals to produce and distribute digital fashion content based on style tech and launched a related platform, FASSKER, in beta in 2020. Through this, 3D content such as VR stores and AR lookbook was developed to offer a new direction for digital fashion. Now, it’s developing the fashion metaverse that can utilize digital contents in a space where the virtual world and the real world coexist.
FASSKER’s unique fashion style, tech technology and content are receiving a lot of interest and great response from major global partners. F&S Holdings participated in MWC 2022 in Spain in February to showcase a ‘VR Store’ that provides the same experience as visiting an actual store, a ‘3D Showroom’ where you can experience real products in 3D. It received recognition by presenting fashion style tech technology and content, such as a live 3D ‘AR lookbook,’ animated rather than a static 2D lookbook.
DS Asset Management Inspector Kim Hee-joong, who led the investment in this round, said, “F&S Holdings is a company with a high level of technology and a number of fashion experts, and already has customer satisfaction. I thought about it and decided to invest.”
With this investment, F&S Holdings plans to speed up the development of the fashion metaverse mall platform and preoccupy the global digital fashion industry, a promising industry in the future.
Meanwhile, F&S Holdings has worked on the possibility of expansion through collaboration with some domestic and foreign brands such as Dior, Fendi, Balenciaga, Estee Lauder, Tod’s, Handsome, and Shinsegae International, Samsung C&T, and LF. Its business performance and technological prowess are being recognized, such as being selected for ‘TIPS’ and the ‘Software High Growth Club 200’ project by the Ministry of Science and ICT and receiving the Ministry’s Award in the ‘Next Unicorn’ section of the 2021 Gyeonggi Startup Talking Day.
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