UAE brand The Giving Movement raises $15m in Series A round

The Giving Movement, a UAE-based sustainable fashion direct-to-consumer e-commerce player in the GCC, has announced the closing of its $15m Series A funding round to further boost its growth. The round was led by Knuru Capital with participation from other investors across the EMEA and Asian region.

The company was founded in the UAE in early 2020 by Dominic Nowell-Barnes, with angel investment from UAE-based entrepreneurs Lucy and Gaurav Sinha. The company has seen significant growth over the past two years, complemented by accelerated demand in the athleisure and lounge wear segments after the onset of the pandemic.

The company’s USP is the combination of a “give-back” brand ethos, an authentic sustainable supply-chain and a 100 per cent UAE manufacturing focus, which has seen it capture a growing share in the GCC apparel sector.

Dominic Nowell-Barnes, founder and  chairman at The Giving Movement said, “We are proud to be partnering with such value-add investors and to have built a brand in over two years on such an authentic consumer promise. Even more so, to have done this from our home in the UAE.  As we expand into new categories and into new markets, quality capital will allow us to remain true to our purpose and to take our ethos global, while continuing to serve our loyalists and community stakeholders.”

Alain Dib, co-founder and CEO at Knuru Capital commented, “We are most excited to the part of the next phase of this great journey. The Giving Movement represents the best of what we see as this next, permanent wave in fashion. Consumers care about purpose, about circularity and about the environmental impact of what they wear. Dominic and his team combine a very strong business performance with a deeply-rooted stance on community and human values in equal measure.”

The funds will be used to further category growth in children’s and the recently-announced baby wear line and to expand into new markets. The company has already expanded into formal wear in 2022 and recently partnered with the Museum of the Future at its February launch.