Activewear brand Tala has secured a new round of funding as it looks to expand into international markets as the demand for athleisurewear continues to grow.
Tala has raised £3m from Pembroke VCT, which participated in a previous funding round in 2021, along with existing investors Venrex and Active Partner in this latest round of £5m investment.
The retailer said it plans to “utilise the investment to support plans for international expansion, with a primary focus on the US market in response to significant customer and social media traction in the US” as well as to “establish a physical retail presence on the high street and enhance the company’s infrastructure and team capabilities.”
This comes after the global athleisurewear market surpassed $360.04bn (£277.22bn) with the UK accounting for 9.1% of the total market. Tala said its business had scaled “significantly” with revenue up “tenfold” since its first investment round in 2021.
Tala founder Grace Beverley said: “This new funding round led by Pembroke marks an incredibly exciting milestone in Tala’s growth. The love and support from our customers as we’ve expanded into new categories and solidified our offerings have been nothing short of remarkable.
“I am incredibly excited for the next stage of our journey and look forward to continuing to disrupt the industry with well-thought-through wardrobe favourites and problem-solving pieces for women, by women.”
Morgan Fowles, Tala chief executive, said: “The past three years have been a period of incredible growth for Tala and we’re excited about the opportunities this round of investment creates to supercharge that growth. Tala has expanded and evolved in every way, made possible by the support of our investors, customers, and our team.
“There was a lot of investment interest in this fundraiser, and in this climate, successful businesses are thinking hard about whether they want to raise capital. But strategic partnership remains an unlock to even greater scale and we’re excited to continue to scale Tala with Pembroke VCT, Venrex and Active Partners.”
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