Rockaway Ventures has invested in Remix, acquiring a 20% stake to enhance its technological capabilities in the circular fashion market.

Information on the Target

Rockaway Ventures has announced an investment in Remix, a leading technology platform focused on circular fashion and one of Europe's foremost companies in the second-hand e-commerce sector. This investment represents a strategic move in a Series A funding round, with Rockaway acquiring a 20% equity stake in Remix. Operating across nine nations and catering to a market of approximately 194 million consumers, Remix is committed to developing the infrastructure necessary for sustainable fashion practices.

The company operates one of the largest automated distribution centers in the Central and Eastern European (CEE) region and has established its own logistics platform. Remix's product portfolio includes advanced AI tools that effectively manage a catalog of over one million unique items, thereby streamlining the process of processing, sorting, and reselling second-hand clothing.

Industry Overview in the Target's Specific Country

The second-hand fashion industry has gained significant momentum in Europe over recent years, primarily driven by increasing consumer demand for sustainable and eco-friendly practices. As the fashion sector faces the pressing issue of ov