Swannies, a golf apparel startup that participated in gener8tor's inaugural Minnesota accelerator last year, has raised $160,000 in a $500,000 seed round, according to an SEC filing.
Swannies co-founder Adam Iverson told Minne Inno that the company plans to use the funds to move into a new warehouse or office, as well as increase its inventory and grow its team. The funds raised so far are from at least four investors, according to the SEC filing. Iverson said that they are primarily local angel investors, but did not disclose their names.
Founded in 2015 by four University of Minnesota graduates, Swannies creates casual, stylish golf apparel for millennials. Swannies' products, mostly geared toward men, are currently sold at more than 300 golf courses across the country, Iverson said. The company launched its spring line last week. Three years ago, Swannies raised around $22,000 from 235 backers in a successful Kickstarter campaign for its golf sandales.
Swannies was one of five startups that took part in gener8tor's first Minnesota accelerator in 2017. Each of the startups received around $90,000 in funding as well as mentorship and connections to followup capital for participating in the program. Another Minneapolis-based startup from gener8tor's first Minnesota class, Kaleidoscope, announced in January that it had raised $1.3 million after completing the program.
Gener8tor is expected to run its next accelerator this summer.
