Direct-to-consumer men’s underwear brand JustWears has secured 2.6 million pounds in funding.
The British brand, known for its use of sustainable and biodegradable materials, said the seed funding from investors Pembroke VCT, Ignite XL and Sunshine Ventures will be used to grow its team to around 15 people, invest in bringing new innovative, biodegradable materials to the market, and develop new product lines.
JustWears was launched in 2018 by co-founders Yang Liu and Alex Walsh who wanted to disrupt a 30 billion dollar market by creating comfortable underwear using sustainable materials such as trees, seaweed and corn.
Its first product – underwear with a pouch design and mesh undercarriage – is made from tree fibres sustainably sourced from forestries in Austria. The material uses 10 times less water and requires 20 times less arable land to produce compared with cotton, according to the brand.
JustWears secures funding to fuel growth
“Having experienced first-hand the impact of unsustainable crops like cotton can have on the plant, the time is now to reduce our over-reliance on certain natural fabrics,” said founder Liu, who studied at the Nanjing Agricultural University in China.
“After all, the fashion industry is the second most polluting industry in the world and until there is a commitment by brands and companies to change the materials they use, this isn’t going to happen.
“We’re excited to bring Pembroke and our other amazing investors on this journey to help lead this change and create comfortable and sustainable everyday clothing items that people love.”
Since launching, JustWears has sold over 150,000 items to more than 40,000 customers in over 70.
It said it has achieved over 250 percent year on year growth.
Simon Porter, investment director at Pembroke VCT, said: “When we first met Yang and Alex, we were hugely impressed with their motivation and dedication, as well as their ability to innovate in a category that is ripe for disruption.
“The JustWears team has created a high-quality product, made with a focus on sustainability. We are delighted to be an investor in JustWears and look forward to working with the team to help the business continue to grow at an impressive speed.”