Spoke, an online fashion platform for men has raised a $1.8 million in a late seed round led by Oxford Capital, making this their second funding round since the company’s inception in 2014. Also participating in the round were Forward Partners, Seedcamp and Angel investors Adu Advaney, Derek Lovelock and Robert Easton. Will Orde of Oxford Capital is slated to join the Spoke board.
The new funding brings the fashion tech startup’s total raised to just over $3 million, with the inflow of capital planning to be used to develop and grow Spoke’s product range and expand its reach to consumers across the globe.
Ben Farren, founder, and CEO of Spoke, commented,
At Spoke, we’re using a digital platform to build a better, smarter menswear brand. We’re hugely excited by the difference we can make in men’s fashion – and this investment will allow us to bring our fit focus to new product categories, and expand the reach of our marketing to a host of new customers.
Founded in 2013, Spoke came about when Farren realized that his struggle to find the right fit of clothing for himself, an average-height man of a medium build, must be a universal problem for men. Post founding the company, Farren was subsequently joined by COO Morgan Fowles.
The company operates Spoke-London.com, which offers clothes for men serving 500,000 visitors annually and having sold more than 30,000 pairs of chinos in 30 countries around the world. They endeavor to cater to the needs of men who don’t have the patience and stamina to experience the entire shopping process for something as simple as a shirt, or a pair of trousers. Their own personal brand is characterized by hassle free, good quality, comfortable fitting clothes.
Nic Brisbourne, founding partner at Forward Partners, said,
We’re very pleased to further invest in Ben and his talented team at Spoke. This fundraise underlines the huge future growth potential of Spoke in global markets and Ben’s skill as an entrepreneur.