H&M Co:Lab part of a $2M investment in New York-based, direct-to-consumer clothing brand Aday

Aday, a New York, USA-based startup creating and selling direct-to-consumer fashion, announced that it had secured 2 million dollars in its latest funding round including investment from H&M Co:Lab, H&M’s venture capital arm.

Additional investment also came from ADG, a consumer tech-focused fund and SoGal Ventures. As part of the fundraising round, Nanna Andersen, who started H&M’s venture capital arm, will join Aday’s board.

The investment will be used to expand its direct-to-consumer strategy with plans to open a permanent location in 2018, in addition to adding showroom capabilities to its London office to match its New York office.

Aday, founded in 2015 by Nina Faulhaber, aims to simplify wardrobes with a line of durable, technical and chic womenswear. The company has invested in research and developed to produce garments using recycled polyesters and polyamides, and to ensure that its seasonless, versatile range of clothing is all sweat-wicking, quick-drying, UV-protected, chlorine-protected and wrinkle-free, while also ensuring that the line is sustainable.

Aday currently ships to the UK, the US, Canada, Australia, Hong Kong and Germany, and has stated that it is also looking to expand to Sweden, France and Singapore next year.

In total, Aday has raised 3.1 million dollars, previous seed investors included Venrex and Truestart.