Startupbootcamp Fashiontech, a vertical B2B accelerator in the fashion tech sector, has closed an investment round with the entry of GELLIFY, a global B2B innovation platform that selects, invests in and grows the most innovative and high-tech startups by putting them in contact with traditional companies to innovate their processes, products and business models, and Azimut Digitech Fund, an alternative closed-end B2B venture capital fund that invests exclusively in B2B technology companies set up by Azimut Libera Impresa SGR (Azimut Group) and operating since the end of December 2020.
Startupbootcamp FashionTech is the first vertical acceleration program for the fashion and textile industry launched by Startupbootcamp, one of the world’s largest startup accelerators which is active in various sectors including financial services, energy, health, media and commerce, with 15 hubs on all continents, a total of 20,000 annual applications and a portfolio of investments in over 1,000 companies.
Based in Milan, the program will run for three years and accelerate 30 high-potential startups from around the world to facilitate meetings and business opportunities with leaders in the fashion and textile industries. The path will be carried out in collaboration with the biggest companies in the fashion world: an international network of academic and private accelerators and a global network of mentors and investors who will support the startups and help them in their commercial and financial development.
GELLIFY had already started a collaboration with Startupbootcamp FashionTech about a year ago to support the accelerator in the path of research and analysis of B2B technology startups and to provide a valid response to the pressing needs of the fashion and textile industry for an increasingly efficient and sustainable supply chain and manufacturing.
The reference markets in which Startupbootcamp operates and invests in the fashion tech field have great potential both in terms of prospects and numbers.
The main areas of interest are Industry 4.0 and supply chain technology. The latter, according to the report “Global Logistics and Supply Chain Management Software 2020-2026” by the international market research firm QY Research, was valued at $15.85 billion in 2019 and is expected to reach $37.4 billion in 2027 with a CAGR of 12%.
Another interesting market considered by the vertical accelerator is retail tech, which, in the QY Research report “Global Smart Retail Market Report 2021-2027“, was valued at $12.4 billion in 2019 and is expected to reach $30.7 billion in 2026 with a CAGR of 13.7%.
The last market Startupbootcamp operates in – the fashion sustainability market – is also poised for growth. This market is valued at $6.35 billion in 2019 and is expected to reach $8.25 billion in 2023 with a CAGR of 7% per the market research firm The Business Research Company in its report on the ethical fashion market.
Given the anticipated growth of these target industries, the investment of GELLIFY and Azimut Digitech Fund by Azimut Libera Impresa SGR in Startupbootcamp FashionTech looks very promising – especially since by investing in the vertical accelerator, GELLIFY and Azimut Libera Impresa SGR will indirectly have stakes in the accelerated companies focused on B2B opportunities in the fashion world and will start operating in a new sector compared to those in which they are already active.
Lucia Chierchia, Managing Partner of GELLIFY commented: “The partnership between GELLIFY and Startupbootcamp FashionTech aims to identify and accelerate innovative startups for the textiles sector, with a specific focus on manufacturing, that is driving a radical change to stay competitive and taking a fresh look at sustainability. Innovative startups offer new technologies and business models that allow us to redesign the textiles economy based on the principles of the circular economy.
This transformation requires a system-level change with an unprecedented degree of commitment, collaboration, and innovation. In our view, meaningful innovation requires strong capabilities.
That’s why we partnered with a worldwide recognized vertical accelerator: to bring our B2B digital expertise to the table to disrupt the textile industry.”
“We are very proud to have Azimut and GELLIFY as investors and business partners in Startupbootcamp FashionTech,” said Alceo Rapagna, the CEO of Startupbootcamp Italia. “Their profound expertise in B2B and Industry 4.0 technologies is complementing our focus on digital and sustainability for an unparalleled joint innovation offering for both fashion startups and corporations.”
You can follow the event live on March 25 at 2:30 p.m. CET by logging on here!