Because of the unpredictable nature of the fashion industry, fashion brands often have to ‘guestimate’ demand for their products, and if they get that demand wrong, they have to deal with the wasted inventory. All too often clothes end up being incinerated unnecessarily, adding to their environmental impact. UK startup Purple Dot has an ecommerce ‘waitlist and pre-order’ platform, allowing fashion brands to only produce the exact volume of goods ordered, thereby cutting down waste.
Purple Dot has now raised a $4 million early stage funding round led by US-based Unusual Ventures. Previous investors Connect Ventures, Moxxie Ventures, and the family office of Indeed co-founder Paul Forster also participated.
Founded in 2019 by entrepreneurs Madeline Parra and John Talbott, Purple Dot says it allows ecommerce businesses the ability to “sell inventory earlier as a way to maximize sales, build brand loyalty, and access demand data earlier.” Purple Dot’s waitlist solution allows inventory to be sold before it arrives in the warehouse. The startup claims it’s the only solution of its type available in the market.
