# FARO Fashion Pty.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/faro-fashion-pty

- Industry: Retail
- Headquarters: Cape Town, South Africa
- Website: www.faro.africa
- Total disclosed funding: $6M
- Latest round: Seed (Jan 15, 2025)
- Investors on record: 2

## About

Founded in 2023 in Cape Town, South Africa, FARO Fashion Pty. Ltd. focuses on facilitating the resale of unsold inventory from fashion brands to targeted markets. The company has completed 1 deal, with its most recent deal occurring on January 15, 2025, raising USD 6.000 mn in funding. The funding round was led by Garage Technology Ventures and Presight Capital. The company was co-founded by Will McCarren, Chris Makhanya, Amber Penney – Young, and David Torr (Co-CEO).

FARO's primary offerings revolve around the management and resale of excess and obsolete inventory for fashion brands, specifically targeting non-core markets. The company utilizes technology and a supply chain to facilitate the purchase, collection, and reconditioning of unsold inventory. FARO's operating system employs AI and predictive analytics to facilitate the supply chain and automate workflows. The company primarily serves international fashion brands looking to monetize their surplus products in emerging markets, that facilitate traceability throughout the inventory management process. Key geographical markets include regions within Asia, Africa, and South America, where the demand for high-quality yet affordable fashion is growing. 

FARO generates revenue by purchasing unsold inventory directly from fashion brands and reselling it in stores located in non-core markets. The transactional structure is primarily B2B, with partnerships established between FARO and its client brands, allowing for streamlined inventory offloading.

## Funding rounds

- Seed, Jan 15, 2025, $6M — Garage Technology Ventures, Presight Capital

## Investors

- Garage Technology Ventures (https://capitalatlas.ai/funds/garage-technology-ventures) — Seed
- Presight Capital — Seed