Drest, a London, UK-based mobile fashion styling game company, raised £15M in funding.
The round was led by Graham Edwards.
The company intends to use the funds to continue the genre defining development of its new product proposition, DREST Game 2.0. This capital will enable Drest’s evolution across gaming, media, data and ecommerce, as the company prepares to roll-out globally a metaverse-enabled version of its current product, which will include a series of new features, with the aim to become the leading creative platform for fashion, entertainment and lifestyle gamification. Further plans include scaling the platform through the developer ecosystem, marketing channels and strategic revenue streams as well as building on the user base growth experienced by the platform. Additional games within the web3 and lifestyle space are being explored and will enter into a Research & Development phase over the next 18 months.
Led by CEO Lisa Bridgett, Drest merges the creative worlds of luxury fashion, beauty and lifestyle with possibilities of the metaverse, offering players the chance to exhibit and improve their styling talent using the latest luxury fashion and beauty collections to style avatars. Through its in-game challenges, Drest is a platform for user-generated content, with the digital fashion assortment provided by Farfetch as well as brands directly, allowing players to discover, style and shop the latest collections. It combines gamification with brand marketing and partnership opportunities, enabling its stakeholders to access and interact with new and engaged audiences.
Since its launch in 2019, DREST has recorded 250% year-on-year user growth, raised £30m, and works directly with over 260 brands including Breitling, Cartier, Fendi, Gucci, Prada and Valentino.
FinSMEs
22/06/2023