Jan 19, 2022, 07:15 ET
SAN FRANCISCO, Jan. 19, 2022 /PRNewswire/ -- HugePOD, a global leader in print-on-demand apparel design and manufacturing, announced a significant funding milestone, raising $40 million in a Series B round to help the company expand its global footprint to the United States. The majority of funding from the Series B raise comes from Joyy Inc. as well as additional funding from all participating investors from the Series A (Engage Capital) and pre-A (Source Code Capital, ZhenFund) rounds.
"With this new funding, we will expand our presence in the U.S. to meet the needs of both current and aspiring small and medium sized business owners as well as creative individuals who want to turn their ideas into reality," said Ying Dai, Chief Marketing Officer, HugePOD. "Having the commitment from Joyy Inc. and the continued support from investors from our previous funding rounds provides us with significant resources to help keep costs down for our partners and customers, while also maintaining a high level of quality print-on-demand service so they can efficiently drive profitability."
The Series B investment positions HugePOD to accelerate its growth in the U.S. by offering small and mid-sized business owners a proven, fast, and cost-efficient process from design to doorstep by:
- Uploading a personally designed graphic or selecting one from HugePOD's new wholesale section featuring images generated by HugePOD's user-friendly Artificial Intelligence (AI) engine enables customers, regardless of expertise, to personalize garments. Customers can utilize HugePOD's free drag-and-drop tool and directly design a 3D mockup of a garment from anywhere, either on a personal computer or mobile device.
- Leveraging a cost-efficient production process of high-quality apparel. By building its own Smart SCCP system, every step in the traditional apparel process, including designing, manufacturing, order management, quality control and logistics tracking are integrated into one collaborating platform, which reduces the cost by 15%.
- Providing a complete network of intelligent manufacturing, covering automatic sublimation printing, edge-finding cutting, pieces sorting and process operating, based on Image Recognition technology and AI. This reduces the cost, especially for sophisticated all-over printing, by 40% to 50%.
- Offering an unmatched ability to customize orders, including sustainable labels, hangtags and packages, with no minimum purchase quantity so customers can receive samples of their products prior to placing a significant order. This will support individuals who would like to launch their personal brand and private label.
- Dropshipping products quickly and directly to customers with minimal wait time and the ability to scale up orders without concerns about inventory
This proven model combined with innovative technology enables business owners and consumers to generate more value at substantially reduced costs.
HugePOD brings nearly a decade of international fashion experience and connections to its global network, including the world's best manufacturers and suppliers, which enables customers to receive the best and most sustainable products for their clients. In addition, HugePOD has established a strong and flexible supply chain for world-class retailers including Steve Madden, Forever New, Landmark, SHEIN, among others.
HugePOD will have select products available to experience at MAGIC Las Vegas from February 14-16, 2022 at the Las Vegas Convention Center. The 400 square-foot physical presence will feature more than 200 garments manufactured by HugePOD.
HugePOD is a global leader in print-on-demand apparel design and manufacturing. Formally launched in 2021, HugePOD includes a global network of diverse manufacturers and has developed a flexible fashion supply chain for world-class retailers including Steve Madden, Forever New, Landmark, SHEIN, among others. HugePOD has more than 200 employees across its offices on three continents.
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