UK-based fashion tech startup TRUSS just raised £300K investment from FIGR Ventures. This funding activates a £1.1 million grant from Innovate UK, which recently backed Aegiq. Previously, the company secured £345K in a pre-seed round led by SFC Capital (which backed Laennec AI and Magic AI), alongside angel investors.
This latest funding enables TRUSS to enhance its data catalogue, scale its team, and broaden partnerships with global retailers. The investment supports collaboration with the University of Warwick, Depop, and Selfridges to develop a bespoke algorithm that can instantly recognise a fashion item from TRUSS’ database using a single image.
Revolution in fashion resale
TRUSS tackles significant challenges in the resale fashion industry, particularly the time and accuracy issues involved in cataloguing secondhand clothing. Traditionally, cataloguing is a labour-intensive process, with each item requiring time-consuming research for valuation and platform re-upload.
Using AI, TRUSS automates this process by identifying and cataloguing items across the internet in just seconds. This solution not only reduces the time spent per item but also enhances pricing accuracy by leveraging historical sales data.
AI-powered product data infrastructure
Founded by Warwick graduates Woody Lello, Felix Jackson, Jack Cardwell, and Connor Mattinson, the company’s mission is to transform fashion resale through AI-powered product data infrastructure. With just a photo, the platform identifies garments, ensuring transparency, enhancing searchability, and boosting conversions. Its data infrastructure minimises time-consuming manual tagging, benefiting fashion retailers, marketplaces, and brands.
TRUSS’s technology streamlines operations while promoting sustainability in resale markets. By leveraging AI, TRUSS helps businesses process products efficiently, reducing waste and increasing the lifecycle of fashion items. The platform supports a growing network of retailers, reinforcing its role in shaping a circular fashion economy.
What’s ahead for TRUSS?
With recognition for its innovation and strategic backing, TRUSS is well-positioned to redefine fashion resale as an efficient, transparent, and tech-driven industry.
Woody Lello, CEO and Co-Founder of TRUSS, commented: “FIGR has been an incredible investment partner for TRUSS, providing critical match-funding for our Innovate UK grant, as well as invaluable support. Their dedication and belief in our mission have been instrumental in advancing our technology and driving innovation forward. FIGR also provides a personal touch that’s rare in the VC world. I immediately recognised that their approach was different – they were the only VC to ask to meet the entire team before making an investment. This thoughtful, hands-on approach set them apart and gave us confidence in their commitment to our vision.”
Fiona Humphries, Managing Director of FIGR Ventures added: “We are thrilled to have made our first investment into TRUSS. We started FIGR to back early-stage businesses with the passion, talent and innovation to drive major positive change in the consumer sector, and we believe TRUSS is a fantastic example of this. We believe the fashion sector needs to change, we believe circularity is the answer, and we believe TRUSS is the way for businesses to achieve this. We’re delighted to be supporting the TRUSS team to achieve this mission.”
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