Grana nabs $3.5 mln in seed funding

Grana (grana.com), an online clothing retailer creating luxury fabrics and wardrobe essentials at guilt-free prices, announced today it has secured an additional $3.5 million U.S. dollars in seed funding. The lead investor is Golden Gate Ventures, along with investments from MindWorks Ventures and Bluebell Group, bringing their total funding to date to $6 million U.S. dollars, with additional Series A funding pending. Grana recently launched in the U.S. market, and the additional funding will help the brand continue its international growth and expansion.

Grana offers timeless wardrobe essentials created from fabrics found around the world, including Chinese Silk, Mongolian Cashmere, Irish Linen, Japanese Denim, Peruvian Pima Cotton, French Poplin, Chinese Cotton Twill, Italian Merino Wool and Japanese Chambray. Grana designs its merchandise in-house and works directly with fabric mills in order to bring the highest quality clothing to customers at the best possible prices.

Grana has grown extensively since its March 2014 beta launch, during which the brand sold 2,000 Peruvian Pima Cotton t-shirts in three weeks, shipping to eight countries directly from Hong Kong. Month-over-month sales are currently increasing by 40 percent since Grana launched in October of 2014.

The new round of funding will expand Grana’s shipping to new markets as well as aid the entry into the U.S. and China markets. The funds will play a critical role in new product category launches such as leather goods, undergarments and activewear.

“We’re pleased to receive financial backing from Golden Gate Ventures and MindWorks Ventures,” said Luke Grana, CEO and co-founder of Grana. “The support is critical to our U.S. expansion, a priority market that already represents 20 percent of our global sales. This new investment allows us to further disrupt the online clothing market and provide consumers with luxury-quality wardrobe essentials without the luxury price point.”