Nudea secures second round of funding to grow fit-centric offer

Online underwear brand Nudea has won a further £600,000 in seed funding from a new pool of investors, as its unique fit-centric model proves a hit with shoppers.

The start-up, which offers a bespoke Fit Tape product and Virtual Fit and Online sizing quiz, in a bid to “better serve bra wearers,” has now raised £1.1m since inception in late 2019.

The second successful round of funding comes amid a rise in customers seeking out accessible, size-inclusive, stylish options for bra-shopping online - an activity which has been accelerated by the Covid-19 pandemic, co-founder and CEO Priya Downes said.

“The pandemic has, in fact, served as a tailwind for us to grow even faster than we could have predicted, given our value proposition of self-fitting, simple online purchasing and hassle-free returns," Downes added.

“We have also seen that Covid-19 has accelerated digital change in the shopping space by three to four years in the space of six months.

“We genuinely believe customer behaviour has permanently shifted too, and the future of bra shopping is virtual, online and from the comfort of your home."

New backers includude Cornerstone Partners and a group of angels led by investor James Eden, with both parties joining Nudea’s Board.

The brand’s founders have also participated.

Commenting on the raise, Cornerstone Partners co-founder Wilfred Fianko said: “Supporting Nudea’s female founders on their entrepreneurship journey is for us a highlight.

“Their industry expertise and vision for the future of the online underwear space is really inspiring.

“I’m excited to see them build out their team, sustain and scale the brand’s remarkable year-one success and make further impact in terms of accessibility in self-fitting.”

Downes added: "Having the backing of Cornerstone Partners is an ideal fit for Nudea - particularly their commitment to underrepresented founders and inclusive businesses.

“As a female-led business whose central ethos is inclusivity, we are pleased to be aligning with a fund that complements our values.

“We have an absolutely stellar team of product innovators, most notably Sophie, our creative director, who has over 25 years’ experience leading design at renowned underwear brands.

“We’re really excited to have the backing and support of our investors to grow our business set to an exciting backdrop of a rapidly-changing retail environment.”