Nivogo
Pioneer re-commerce start-up aims to revolutionize entire fashion industry through re-commerce center powered by circularity and technology.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | $500k Valuation: $10.0m | Early VC | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 249 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
Related Content
Nivogo operates as a re-commerce firm with a focus on the circular economy, founded in February 2021 by Arnas Akbaş and Ali Cem Yücebağ. The company's inception was driven by the observation of significant waste in the fashion industry, where usable products were often discarded. Nivogo, a name derived from combining "new" (nivo) and "go," aims to redefine the concept of newness by reintroducing items back into the consumer lifecycle.
The company's core business involves partnering with brands to process items that cannot be sold through primary channels for various reasons, such as customer returns, defects, or being from past seasons. These products are collected and sent to Nivogo's renewal center in Gebze, a 4,400-square-meter facility with a monthly processing capacity of 100,000 items. At the center, each product undergoes a six-stage renewal process, including assessment, sanitization, and repair. Nivogo utilizes its proprietary technology for product identification, classification, and an AI-based system for pricing the refurbished goods. Once renewed, the items are resold through various sales channels.
Nivogo employs two primary business models. The first is an end-to-end service where Nivogo manages the entire process from renewal to resale, sharing the revenue with its brand partners. The second is a service provider model where brands send products for renewal and then receive them back. In its first year, the company collaborated with over 10 brands and renewed more than 300,000 products. The company also engages directly with consumers through Türkiye's first circular store, where individuals can exchange their used clothing for "NivoPoints," a currency for in-store use. Looking forward, Nivogo plans to expand its renewal services to other product categories, including electronics, furniture, and baby products.
Keywords: re-commerce, circular economy, fashion sustainability, product renewal, apparel refurbishment, textile recycling, sustainable fashion, reverse logistics, AI pricing, circular business model, waste reduction, brand partnerships, used clothing, refurbished goods, second-hand market, circular retail, sustainable consumerism, product lifecycle extension, fashion technology, environmental services