Heat Closes $5M Funding Round

Heat, a London, UK-based fashion mystery box startup, closed a $5m funding round.  

Backers included Antler and LVMH Luxury Ventures, as well as a number of strategic angel investors including Stefano Rosso (OTB), the Hermès family, Michael Mitterlehner (L Catterton), Oliver Merkel (Flink) and Sven Ahrens (Spotify).

Founded in late 2019 led by the partnership of Joe Wilkinson (25) CEO and Founder and Co-founder and Director Mario Maher (26), Heat is a streetwear mystery box startup connecting shoppers globally with some of the world’s biggest brands. The company has already partnered with 60+ of the world’s leading luxury brands including Off-White, Palm Angels, Amiri, Billionaire Boys Club and Casablanca. 

Since launch, Heat has sold over 20,000 luxury mystery boxes, and more than 100,000 individual units of stock. The company quickly opened a Sheffield based distribution hub and has expanded to include headquarters in London and distribution facilities in Milan. Heat currently has a team of 15 and plans to develop further distribution hubs in the EU and USA.