# The Drop Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-drop-technology

- Industry: Consumer Products
- Headquarters: London, UK
- Website: www.thedrop.co
- Total disclosed funding: $0.3M
- Latest round: Seed (Mar 27, 2017)
- Investors on record: 1

## About

The Drop Technology Ltd. specializes in crafting custom-made suits tailored to individual measurements, focusing on sustainability and unique fits for customers worldwide.The Drop Technology Ltd. was founded in 2017 and operates out of London, UK. The company develops personalized clothing solutions, pivoting towards on-demand production to counteract fast fashion waste. The founders, Damian Clarke and Jonathan Kruger, have a background in the fashion industry. The company raised GBP 0.5 million in Seed funding on November 14, 2018, led by The Garage Soho, bringing the total amount raised to GBP 0.5 million. The firm has completed 2 deals to date.The company provides custom-made suits tailored to individual measurements, taking measurements post-checkout to address sizing issues common in off-the-peg clothing. Their offerings include laser-cut and hand-finished suits in various styles and colors, emphasizing sustainability through on-demand production. They target style-conscious individuals preparing for important events and promise worldwide delivery within three weeks.The company's revenue is generated primarily from direct-to-consumer sales of bespoke suits, with prices starting at GBP 299 for a two-piece suit and increasing based on style and complexity. Customers engage in a straightforward online purchasing process, selecting suit styles and providing measurements, which promotes smooth transactions. Customization options, including embroidery and unique linings, are available at no extra charge, fostering customer loyalty and repeat business. The firm operates with a focus on quality, ensuring every item meets specific customer expectations, and reported an EBITDA of GBP 0 for the most recent year, 2023.In November 2018, The Drop Technology Ltd. raised GBP 0.5 million in Seed funding, which will support their strategies for growth. The company plans to expand its product line to include new suit styles and accessories, with launches scheduled in the upcoming year. Additionally, they aim to enter new markets across Europe by the end of 2024, focusing on countries with a growing demand for bespoke fashion. The recent funding will facilitate the design and development of these new offerings, enabling The Drop to enhance its market presence.

## Funding rounds

- Seed, Mar 27, 2017, $0.3M — Forward Partners

## Investors

- Forward Partners (https://capitalatlas.ai/funds/forward-partners) — Seed