Ukrainian-founded digital fashion startup DressX receives $15M 

Ukrainian-founded startup DressX that develops a platform for selling virtual-fashion clothes has secured $15 million in a new investment round. The startup’s valuation is not disclosed.

  • The round was led by Berlin-based Greenfield Capital fund. Slow Ventures, Warner Music, The Artemis Fund, Red DAO, and others are also among the investors.
  • Recently, the startup has already closed $1.3 million and $2 million rounds of investments.
  • DressX was founded by Darya Shapovalova and Natalia Modenova. The startup creates a platform for selling digital clothing and also works with other marketplaces and platforms. Previously, DressX also partnered with Meta: DressX clothing is used in the Avatar Store.
  • DressX team will use fresh funding to develop the platform, improve its application, and implement new functions. The funds will also be spent for marketing efforts and startup’s products promotion.
  • The current round is the largest round for Ukrainian startup since the beginning of 2023. AIN.Capital has learned that negotiations to raise funds began in 2022, but the deal was only recently finalized.