The company that made Prince George's dressing gown has raised £5 million
The company behind the dressing gown HRH Prince George wore when meeting President Obama has secured a £5 million growth funding round.
My 1st Years, a children's gifts personalization site that was founded in 2009 by childhood friends Daniel price and Jonny Sitton, said it will use the fresh capital to drive developments in operations, marketing, and international expansion into the US.
The startup's personalized gifts for babies and children have been bought by celebrities including Dannii Minogue and Elton John, as well as the royals. Beyond dressing gowns, My 1st Years gifts include customized toys, shoes, and bedding.
"We always had a lot of faith in the potential of this company, but we've really seen that come to life in the last year or so, and it's time for us to build on the success we've already had. Funding is key to the next step for us," said Daniel Price, cofounder and joint managing director of My 1st Years," in a statement.
"With this funding under our belt, we'll be able to enhance our existing proprietary personalization technology, as well as invest in the skills we need to do more with our data, create effective marketing campaigns and build on our international shipping by expanding into the US. We're hugely excited to be working with investors that have a proven track record in retail, and look forward to what 2017 will bring."
The latest funding round came was led by Beringea, and supported with funds managed by Hargreave Hale. It brings total investment in the company up to £7 million.
"Daniel and Jonny are natural entrepreneurs," said Maria Wagner, investment director at Beringea, in a statement. "What they have achieved so far is particularly impressive given this is their first job out of university. Not only have they spotted a gap in the market and had the guts to go for it, they have also managed to secure the support of veteran ecommerce professionals, broker relationships with leading retailers in the country and create impressive buzz amongst the press and consumers.
"Their achievements so far give me immense confidence that they can really push on to the next level with support from us. We look forward to joining them on their journey."
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