Trend Flea Market App “digdig” Raises Roughly ¥400 Million in Collection A to Strengthen Product – BRIDGE

The style flea market app “digdig” introduced on the twenty second that it has raised roughly ¥400 million in a Collection A funding spherical. The buyers embody Mitsui Sumitomo Insurance coverage Capital, Mitsubishi UFJ Capital, Worth Chain Innovation Fund (managed by Spiral Innovation Companions), and Zenkoku Hosho Innovation Fund. As well as, the corporate has secured a mortgage from Mizuho Financial institution.

digdig is a flea market app designed to resolve points in second-hand clothes gross sales, similar to “itemizing is troublesome” and “costs are too low.” Customers merely pack their garments right into a particular equipment despatched by the app and return it, coming into their desired promoting value to finish the itemizing. The corporate handles all duties similar to images, measurement, packaging, and transport, making it straightforward for novices to promote used clothes.

The corporate is creating a sensible reuse platform that mixes AI and logistics, digitizing duties similar to inspection, images, measurement, and content material creation to scale back prices and lead occasions within the secondary distribution of used clothes. Sooner or later, they goal to construct Japan’s largest platform for second-hand clothes gross sales, redefining how clothes is disposed of.

The funds raised can be allotted to product growth, logistics effectivity via AI utilization, launching new companies, strengthening operational methods, and recruitment actions to broaden the group.

For the reason that app’s launch in August 2024, it has surpassed 300,000 cumulative downloads in a single yr, and the entire variety of social media followers has exceeded a million, quickly increasing its assist base amongst vogue lovers. With these achievements as a backdrop, the corporate plans to refine its providers and broaden its enterprise areas utilizing the sources acquired on this Collection A spherical.

by way of PR TIMES