Copenhagen-based Virtuall secures €829k in pre-seed funding. The most active early-stage venture capital firm in Europe, Antler, together with EIFO (the Export and Investment Fund of Denmark), Styleit (the FashionTech accelerator of the Italian National Accelerator Network of CDP, Cassa Depositi e Prestiti), and spearheaded the funding round.
The pre-seed round included a number of well-known angel investors, including Morten E. Wulff, the founder of GameAnalytics and chairman of Virtuall, Bjorn Bruun, the proprietor of the fashion brand Bruuns Bazaar, Tarmo Renter, an entrepreneur from Estonia, and Anders Gustafsson, a SaaS and sales strategist.
Jonas Wallengren, co-founder of Virtuall, commented: “The Fashion industry is quickly adopting new channels for creating engagement with new tech-savvy customer generations and mirroring our digital lifestyle. We envision a future where customer experience is enhanced through Games, digital value, and immersive technology that are seamlessly accessible for all lines of business. We are in a position to simplify enterprises’ access to these channels by reducing the technological barriers to a rapidly expanding market.”
The company is going to use the funds to scale sales and automate processes to improve platform usability and delivery speed. In the heart of Europe’s fashion sector, in Denmark, Latvia, and Italy, where they have opened an office recently, they will also be expanding the team.
Mathias Kaasgaard, investment manager at EIFO, commented, “We are delighted to be a part of Virtuall’s growth story through our recent investment. This further underlines our belief in their potential to become a category defining company within a growing digital fashion industry. We applaud their visionary strategy aimed at redefining the fashion industry’s approach to creating collections, a mission that aligns seamlessly with our persistent commitment to championing sustainable business models and driving innovation.”
Michael Wiatr, Partner at Antler, added: “Virtuall is connecting some of the world’s biggest industries – gaming and fashion. They have the potential to give brands the technology to bring their products to the metaverse and connect with Gen Z consumers through digital platforms. We are delighted to have backed the Virtuall team from day zero and have every confidence in the future growth of the business.”
The four founders of Virtuall, who drew together many years of entrepreneurial experience from digital transformation and lifestyle brand building, founded the company in 2022 while on an Antler residency in Copenhagen and Norway.
The four founders, Nauris Dorbe, Markus Helle Pettersson, Felix Wigand, and Jonas Wallengren, have established and closed a number of profitable businesses. They are Swedish, German, and Latvian in nationality.