Underwear maker TomboyX raises $4.3M, aims to tackle ‘lack of inclusivity’ in fashion industry
TomboyX just raised another round of investment to make more gender-neutral underwear.
The Seattle startup reeled in a $4.3 million Series A round led by TAU, with participation from Redbadge Pacific and SBI Investments Korea. Total funding is $6.3 million to date.
Founded in 2013 by married founders Fran Dunaway and Naomi Gonzalez, TomboyX targets “plus-sized, gender non-conforming and specialized tradespeople” with its apparel products.
“TomboyX was founded to combat the lack of inclusivity in the fashion industry. We created products that are highly functional, of premium quality, and wearable by all,” Dunaway said in a press release.
TomboyX was recently featured as one of Inc.’s fastest-growing Seattle companies.
Fast Company reported in June that consumers are looking for alternatives to brands such as Victoria’s Secret. “But in my reporting over the last few years, I’ve also found that millennial women aren’t particularly drawn to the brand’s focus on overt sexuality which suggests that underwear is something you put on to titillate other people,” wrote Elizabeth Segran.
The company’s board is 100 percent female, and 90 percent of its investors are women. Less than 3 percent of venture capital dollars went to all-women founding teams last year.