<article>New York-based luxury fashion startup <a style="color: #000080;" href="https://www.materialwrld.com/" target="_blank">Material Wrld</a> has raised $9 million in a Series B round from Japanese firms <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/start-today" target="_blank">Start Today</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/nissay-capital/" target="_blank">Nissay Capital</a>.</article>

New York-based luxury fashion startup <a style="color: #000080;" href="https://www.materialwrld.com/" target="_blank">Material Wrld</a> has raised $9 million in a Series B round from Japanese firms <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/start-today" target="_blank">Start Today</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/nissay-capital/" target="_blank">Nissay Capital</a>.
Start Today is the parent company of Zozotown, one of the biggest fashion e-commerce sites in Japan, while Nissay Capital is the corporate venture arm of Nippon Life Insurance company.
To date, Material Wrld has secured $13 million in funding, according to a <a style="color: #000080;" href="http://thebridge.jp/en/2016/03/material-wrld-announces-funding-from-start-today" target="_blank">report</a>. This includes a <a style="color: #000080;" href="http://techcrunch.com/2012/12/10/fashion-marketplace-material-wrld-raises-780k-seed-round-led-by-warby-parker-bonobos-investor-great-oaks-vc/" target="_blank">$780,000 seed round</a> led by Great Oaks VC in the US.
The startup&#8217;s business model revolves around users trading in their pre-owned designer clothes and items for in-store credit that they can use to buy new designer clothes online and in-stores. According to its page, the company only accepts clothes from the last five years, handbags and wallets from the last 10 years, and shoes from the last five years, from 160 brands. All trade-ins should be in excellent condition.
Just days back, Start Today was reported to have invested a multi-million amount in Malaysia-based fashion e-commerce website FashionValet&#8217;s Series B round.
This round also marked Start Today&#8217;s first investment in the US, including in the North American region as well.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/fatfish-backed-ifashion-group-raises-730k-from-rimu-35023/" target="_blank">Fatfish-backed venture platform iFashion Group raises $730k from Rimu</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/34875-34875/" target="_blank">Temasek-backed InnoVen Capital funnels $5m of venture loans to KFit, Pomelo Fashion</a>

New York-based luxury fashion startup Material Wrld has raised $9 million in a Series B round from Japanese firms Start Today and Nissay Capital.

Japan's Start Today, Nissay Capital put $9m in NYC luxury fashion startup Material Wrld

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Japan's Start Today, Nissay Capital put $9m in NYC luxury fashion startup Material Wrld

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief