# Heat

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/heat

- Industry: Consumer Products
- Headquarters: London, UK
- Website: www.heat.io
- Total disclosed funding: $5M
- Latest round: Seed (Jan 13, 2022)
- Investors on record: 2

## About

Founded in 2019 by CEO Joe Wilkinson and Mario Maher, and based in London, UK, Heat operates an online shop that offers mysterious boxes that contains various streetwear clothing brands. In January 2022, Heat raised USD 5 million in seed funding co-led by Antler and LVMH Luxury Ventures, with participation from other investors.

Heat operates as an online shopping platform. The company allows options for luxury brands to monetize their unsold inventory via drops of surprise merchandise. The company purchases unsold inventory from over 60 luxury brand partners including Off-White, Casablanca, and Palm Angels to curate its mystery boxes of clothing and accessories, sold in hyped drops on Instagram and YouTube to thousands of Gen Z fashion fans.

The company earns revenue through its e-commerce platform that sells mystery boxes. The company sells two boxes, heat box for USD 400 and heat box plus for USD 675. 

Heat plans to use the seed funding to build out its brand roster and become a Gen Z e-commerce leader across mystery boxes and retail, using gamification and AI to personalize the retail experience and box curation. The company also expects to bring LVMH’s brands on board.

## Funding rounds

- Seed, Jan 13, 2022, $5M — Antler, LVMH Luxury Ventures

## Investors

- Antler (https://capitalatlas.ai/funds/antler) — Seed
- LVMH Luxury Ventures (https://capitalatlas.ai/funds/lvmh-luxury-ventures) — Seed