Naadam, a NYC-based luxury cashmere brand, raised $16m in Series A funding.
The round was led by Vanterra Capital with participation from Torch Capital, U-Start Club, Trail Post Ventures, and Plug & Play Ventures.
The company intends to use the funds to invest in marketing, advertising, and brand communication initiatives.
Co-founded and launched by Matthew Scanlan, Diederik Rijsemus and Hadas Saar in 2015, Naadam is a luxury cashmere brand which goes directly to the source and supports supply chain sustainability with non-profit work.
The company deals directly with the herders, and partners with top spinning mills.