Sustainable Finance

The Giving Movement Raises $15 Million in Funding Round

Published on: 19 March 2022
by KnowESG
the-giving-movement

The Giving Movement, an online sustainable apparel shop located in the United Arab Emirates, raised $15 million in its most recent fundraising round. Knuru Capital led the Series A investment, including investors across the EMEA and Asian regions.

Dominic Nowell-Barnes started the company in early 2020, with an initial investment from UAE-based entrepreneurs Lucy and Gaurav Sinha.

Dominic Nowell-Barnes, Founder & Chairman at The Giving Movement, said: "We are proud to be partnering with such value-add investors and to have built a brand in over two years on such an authentic consumer promise. Even more so, to have done this from our home in the UAE. As we expand into new categories and new markets, quality capital will allow us to remain true to our purpose and to take our ethos global while continuing to serve our loyalists and community stakeholders,”

In 2022, the brand will expand into formal wear, and at its February debut, it teamed with the Museum of the Future. As it looks to expand into new areas, the Giving Movement will use its newly acquired capital to expand its category growth to include children and the recently launched baby wear lines.

Alain Dib, co-founder and CEO at Knuru Capital, said: "We are most excited to the part of the next phase of this great journey. The Giving Movement represents the best of what we see as this next, permanent wave in fashion. Consumers care about purpose, circularity, and the environmental impact of what they wear. Dominic and his team combine a very strong business performance with a deeply-rooted stance on community and human values in equal measure.”

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