Fashion tech unicorns walking the green runway
The fashion industry’s efforts for sustainability is notoriously poor, could fashion tech unicorns be the key for needed innovation? The industry accounts for a staggering 2% to 8% of global carbon emissions, more than all international flights and maritime shipping combined, according to the United Nations Environment Programme (UNEP).
But there’s a silver-lining, fashion tech unicorns have emerged tackling these challenges head on. Some notable unicorns include Allbirds which utilizes recycled material to make footwear, and companies like The RealReal & Vinted are tapping into the second-hand marketplace market. A pool of startups are also emerging such as bio-based regenerative materials, textile recycling, innovative fashion business models such as leasing, second-hand or sharing platforms.
Overall, the industry has experienced a rapid growth in the last years. In the last decade, the global investment into sustainable fashion increased by 18x, attracting $724M in 2022. The peak was reached in 2021, with $2B in VC global investment.
As of today, the ecosystem is valued at $28B.
At Dealroom.co, we’ve mapped 190+ fashion tech unicorns and startups innovating sustainable alternatives within the fashion industry.
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