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The Consumer Roundup #14
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This issue is brought to you by Vauban from Carta - the easiest way to launch & run your venture investing.
If you’re in LA, I’m co-hosting a coffee meetup on April 26th from 8-10am at Menotti’s Coffee Shop in Venice for consumer founders and investors
Now on to our fundraising updates –
HUG, the social marketplace that connects NFT creators and collectors, raises a $5 million seed round led by DIGITAL and also includes L'Oréal's BOLD corporate venture fund, Venrex, Jae Holdings, Cryptology, Samara, and Aa Sons - PR Newswire
Consumer Products, CPG & Hardware
Kintra Fibers, the materials science company that has developed biodegradable polyester serving the apparel industry, raises $8 million Series A led by H&M Group and also includes Bestseller’s Invest FWD, Fashion for Good, New York Ventures, TRE Ventures, Tech Council Ventures, FAB Ventures - FinSMEs
A Word From Our Sponsor
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Walmart is selling Bonobos to WHP Global and retailer Express Inc. for a total of $75 million. WHP Global is buying the Bonobos brand for $50 million and Express Inc. (which WHP Global owns 60% of) will acquire Bonobos’ operating assets and liabilities for $25 million. Walmart acquired the brand 6 years ago for $310 million - CNN
Funds Raising Funds
Kite, a commerce company that invests, acquires and operates high-potential, digital-first consumer product brands founded by former GoFundMe’s CEO Rob Solomon, raises $200 million from Juxtapose and Blackstone - TechCrunch
Dan and Tanya Snyder reach a non-exclusive deal to sell NFL team Washington Commanders to Josh Harris - ESPN