Blockchain Based Fashion Brand Syky Raises $9.5M In Series A Funding Round, Set to Release NFTs

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The next-generation luxury fashion platform, Syky, has successfully raised more than $9 million in a Series A funding round. The digital fashion startup anticipates seeding the secured funds in the nascent NFT sector.

Alexis Ohanian Led Syky To Raise $9.5M

In a January 17 press release, the luxury fashion platform confirmed raising $9.5 million in a Series A funding round. The funding round was led by Alexis Ohanian’s venture capital firm Seven Seven Six. Ohanian is the co-founder social media platform Reddit.

Alongside Ohanian’s Seven Seven Six, the funding initiative also saw the participation of notable venture capital firms, including Brevan Howard Digital, Leadout Capital, First Light Capital Group, and Polygon Ventures.

Launched in November 2022, Syky is a blockchain-based luxury fashion platform designed to bridge the current divide between emerging digital fashion talents, the mainstream fashion industry, and consumers.

The platform is under the leadership of Alice Delahunt, the former chief digital officer at Ralph Lauren. While commenting about the recent successful funding Alexis Ohanian, the co-founder of Reddit, remarked:

“There is limitless potential with Web3, and fashion’s place in this future is no exception. We invested in Syky because we believe in Alice’s vision to build the leading fashion platform and community for the next generation of designers and consumers.”

Syky Sets To Use The Secured Funds To Launch NFTs

According to the announcement, the digital fashion startup anticipates using the secured funds to launch a non-fungible token project. The NFT project will feature a limited edition of 987 Keystone NFTs.

The new Keystone NFTs will serve as membership pass for fashion lovers, leaders, and collectors who want to shape the future of fashion in digital, physical, and augmented worlds. The NFT collection will officially launch this week on January 20.

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