Amsterdam-based Labfresh, a startup that aims to fight overconsumption by developing intelligent apparel, announced the launch of a new crowdfunding round to support the opening of additional flagship stores.

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According to the company, the decision to expand retail now is based on two reasons:

  • The first three flagship stores are performing well, driving customer loyalty and profitability. Retail has been shown to support online sales.
  • After borrowing €800,000 to open those stores, €700,000 has been repaid by November. This allows for the possibility of taking on new debt.

In the upcoming months, the company plans to open two flagship shops and five shop-in-shops in the Netherlands and Denmark.

To lead the expansion, LABFRESH has appointed Thomas Haverberg as its Head of Retail & Wholesale.

The announcement comes over a month after raising €1M through crowdfunding on the eyevestor platform to launch a smart womenswear line. 

In the latest round, LABFRESH is offering bonds with 7 per cent annual interest and full repayment within four years, providing a simple and tangible way for customers to participate in the company’s growth story.

Raised €236,400

At the time of writing this article, a total of €236,400 has been raised from 97 investors in a bond investment, which aims to reach a target of €700,000.

“We have done crowdfunding for 8 years – always relying on customers. No banks. No venture capital,” says Kasper Brandi Petersen, the co-founder of LABFRESH, through a LinkedIn post.

Currently, the company has 1,335 individual investors, with their names displayed on the “hero walls” of LABFRESH’s stores, says the company.

Some investors own shares for long-term growth, while others have debt instruments that provide annual cash returns.

Recently, LABFRESH distributed €120,000 to customer-investors’ bank accounts to share profits with its supporters.

Labfresh: Fighting overconsumption with smart apparel

Founded by Kasper Brandi Petersen and Lotte Vink, Labfresh is on a mission to fight overconsumption by developing intelligent apparel that repels stains and odour.

Developed in Switzerland, produced in Portugal, and designed in Amsterdam, these smart t-shirts from Labfresh are made of 100 per cent long-staple cotton.

The Dutch company uses FreshCore technology, a unique treatment mix that combines three performance-enhancing technologies in one: hydrophobic, antibacterial, and easy care.

The combination of these three properties allows our products to be stain, wrinkle, and odour-repellent.

The smart T-shirt repels water-based liquids like red wine and ketchup. In addition, it has moisture-wicking technology, which ensures that sweat is absorbed and spread out over the fabric so it can dry quickly while not being externally visible.

The company’s fabrics and yarns are also STANDARD 100 by OEKO-TEX and BlueSign certified.