# Swatch On

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

- Industry: Consumer Products
- Headquarters: Seoul, South Korea
- Website: www.swatchon.com
- Total disclosed funding: $12M
- Latest round: Series B (Apr 7, 2022)
- Investors on record: 7

## About

Swatch On is a South Korean wholesale fabric platform that connects fashion brands with high-quality textile solutions, facilitating efficient sourcing and procurement of unique fabrics for the apparel industry.Founded in 2017 by Woosuk Lee, Swatch On is headquartered in Seoul, South Korea. The company operates as a platform for fashion brands to source fabrics efficiently. Swatch On has completed a total of 7 deals, with the most recent funding round occurring on April 21, 2022, during which it raised USD 10.00 mn from investors including Kakao Ventures, Pavilion Capital Partners, and TBT Partners.SwatchOn operates as a leading wholesale fabric platform, primarily catering to fashion brands seeking high-quality textile solutions. The company’s core offerings include a diverse range of fabrics that serve the apparel and fashion industries, addressing the need for reliable sourcing of materials. SwatchOn facilitates seamless transactions between fabric manufacturers and fashion brands, ensuring a streamlined supply chain that allows designers to easily access unique fabrics tailored to their specific needs. The platform is primarily utilized by fashion designers, retailers, and manufacturers located in key markets including North America, Europe, and Asia. By connecting these stakeholders, SwatchOn enhances the efficiency of fabric procurement and fosters innovation in fashion design, ultimately contributing to the growth of emerging and established fashion brands alike.The revenue model of SwatchOn is structured around B2B transactions, where fashion brands directly purchase fabrics through the platform. Clients engage with the company by placing orders for specific textiles, which may involve bulk purchases for ongoing projects or smaller quantities for sampling purposes. The pricing structure accommodates various order sizes, providing flexibility for both large-scale operations and independent designers. Flagship products include exclusive fabric collections that resonate with current fashion trends, appealing to a broad spectrum of clients. This transactional framework generates revenue through direct sales and strengthens long-term partnerships with fashion brands, ensuring a consistent influx of orders as these brands grow and evolve in the competitive fashion landscape.In April 2022, Swatch On raised USD 10.00 mn in funding to develop and build interesting new initiatives, focusing on the digital fashion revolutionization. The company has plans to expand into new markets, targeting regions in Europe and North America by the end of 2023. The recent funding will be utilized to support these strategic initiatives, enhancing their platform capabilities and product offerings.

## Funding rounds

- Series B, Apr 7, 2022, $9.8M — Temasek Holdings, Kakao Ventures, TBT Partners
- Series A, May 22, 2019, $1.8M — KB Investment, Dunamu & Partners
- Seed, Sep 1, 2018 — Kakao Ventures, Korea Tech Incubator for Startup
- Seed, Feb 22, 2018 — Kakao Ventures
- Seed, Sep 1, 2017 — SparkLabs Accelerator

## Investors

- SparkLabs Accelerator (https://capitalatlas.ai/funds/sparklabs-accelerator) — Seed
- Kakao Ventures (https://capitalatlas.ai/funds/kakao-ventures) — Seed, Series B
- Korea Tech Incubator for Startup — Seed
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series A
- Dunamu & Partners (https://capitalatlas.ai/funds/dunamu-partners) — Series A
- Temasek Holdings — Series B
- TBT Partners (https://capitalatlas.ai/funds/tbt-partners) — Series B