Otrium
Connecting brands with excess inventory to consumers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
$120m Valuation: $900m | Series C | ||
| Total Funding | 000k | ||
| USD | 2019 | 2020 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 123 % |
| 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
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In 2015, two childhood friends from Amsterdam, Max Klijnstra and Milan Daniels, embarked on a mission to tackle a persistent issue in the fashion industry: unsold inventory. Drawing from their experience with their own clothing brand, they founded Otrium, an online marketplace designed to give unsold fashion items a second chance.
Otrium's platform connects fashion brands with consumers eager for quality products at reduced prices, effectively extending the lifecycle of fashion items that would otherwise remain unsold. This innovative approach not only benefits consumers but also helps brands manage their inventory more efficiently.
In March 2021, Otrium secured a significant milestone by raising $120 million in a Series C funding round. This influx of capital enabled the company to expand its operations and enhance its platform, solidifying its position in the competitive fashion e-commerce landscape.
As Otrium continues to grow, it remains committed to its core mission of reducing waste in the fashion industry. By providing a platform for unsold inventory, Otrium is not only transforming how fashion is consumed but also promoting a more sustainable approach to retail.