20. June 2013–
Rad, a Paris-based discovery platform for indie fashion, art and design products, has received a €2.5m Series A investment round led by Index Ventures. A number of angel investors, including Nicolas Sant-Weil who founded kooky fashion label The Kooples, and the Vaizra Seed Fund also contributed.
Marketing itself as "part-private sales, part-art shop and part-brand", Rad encourages artists and designers to collaborate in creating products for the platform. Launched 11 months ago, the team is now working towards €15m revenue this year from almost one million members.
Rad cofounder David Smadja said: “This investment will help us on our way to developing our brand, as we continue to create unique products, deepen our collaborations with artists of all kinds and create a growing community of people who share our passions. Our goal is for our members to create products with us on a massive scale, turning Rad into an incubator for young talent and designers.”
Previously funded by bootstrapping, the company will use the investment to expand its current team plus prepare for a German launch. Rad faces some stiff competition in Germany from designer goods platform Fab – which just pulled in an extra $150m funding and relies on Germany and Austria for 60 per cent of its European revenue – plus curated online fashion platform Monoqi and marketplace Etsy.