Sneaker marketplace Laced has raised $12 million in a Series A round, bringing its total funding to $17 million.
The investment was led by Talis Capital and backed by H&M Group as well as the company’s previous investors, BY Venture Partners and Truesight Ventures. Several other angel investors, including Bart Swanson, the current board member at Impossible Foods, and Eric Archambeau, co-founder of Astanor Ventures, also participated in the round.
“We are thrilled to back Chris and the dedicated team behind Laced as they embark on the next stage of their journey,” said Nanna Andersen, head of new growth and ventures at H&M Group. “In building an impressive online marketplace, they are not only providing consumers with a specially curated selection of in-demand sneakers but also an important platform to extend the lifecycle of products. This investment is exactly the type of company and entrepreneur that we are delighted to support.”
Laced plans to use the funding for further building its technological capabilities and product offering.
In addition to the funding round, the company also revealed a new brand identity in collaboration with the creative agency SomeOne. Laced said the new brand “represents the company’s mission to democratize access to some of the most sought-after luxury products.”
The London-based company recently surpassed $100 million in gross merchandise value on the platform.