Gender-neutral underwear brand TomboyX secures $18 million in funds
May 16, 2019
Gender-neutral, size-inclusive underwear brand TomboyX has secured $18 million in Series B funding.
The funding round was led by The Craftory, a London-based venture capital company that now stands as TomboyX’s majority shareholder, according to TechCrunch.
A direct-to-consumer brand, TomboyX started with the goal of making "underwear that any body could feel comfortable in, regardless of where they fell on the size or gender spectrum," according to its website.
Via its e-commerce platform, TomboyX offers underwear, bras, multi-packs of underwear, swimwear and apparel like hoodies and socks. Underwear sizes range from XS to 4XL, with prices sitting at around $20 for bottoms and $40 for bras.
"We are very excited to collaborate with the team at The Craftory as we continue in our mission to design inclusive and gender-neutral underwear for our diverse global audience," co-founders Fran Dunaway and Naomi Gonzalez said in a press statement provided to TechCrunch.
"We are confident that their expertise in branding and consumer goods will complement our own creativity and disruption of traditional products."
The Craftory directors will now join the TomboyX board, alongside LVMH Group's former chairman of North America, Pauline Brown.
Brown represents TAU Investment Management and was a lead investor for the TomboyX's Series A round, which took place in August last year and saw the company raise $4.3 million.
TomboyX's total funding to date is more than $25 million.
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