In Omorpho’s second seed funding round, co-founder Stefan Olander said the microweight apparel brand had to do less outreach as interest flooded in.
“Before you go to market, you're selling more on a promise … and then when people see it in real life and are able to see the product and the fantastic response from consumers, it's a completely different momentum and energy,” Olander said. “For us this was actually one where there was a lot of interest coming our way versus usually when you raise capital, you have to go out and seek capital out.”
Olander and his team of industry vets has been building Omorpho for three years, and last year the company completed its first seed round and raised $5 million. That capital was used for building inventory, building the digital platform, marketing and hiring the team, Olander said.
Olander hopes the $6 million in seed funding the brand recently reported will carry the company well into 2023, he said. It will be used for expanding the company’s marketing, specifically through partnering with more athletic ambassadors.
“Really, most people haven't seen us, they don't know that it's there yet. So for us it's really about just getting the word out that gravity sportswear is here and why it is so beneficial for anyone that wants to get more from everything they do,” Olander said.
Both seed rounds were led by KB Partners, a Chicago-based venture capital firm focused on the intersection of sports and technology. Olander said it has been great to partner with a firm that understands and aligns with the company's goals and values.
“What we love about KB Partners is you want investors that understand your business and can help propel it, not just with capital but also with experience and connections,” Olander said.
Omorpho doesn’t anticipate doing a third round of seed funding, Olander said, and whether the company will continue to seek VC backing for support depends on how it grows over the next year.
“It's all going to come down to just building this incredible momentum we have. We're super happy with sales and we're happy with the reaction and response from consumers,” Olander said.
