Lithuanian fashion startup The Knotty Ones raised €250K

Lithuanian fashion marketplace for knitwear clothing, The Knotty Ones raised €250K from Lithuanian Coinvest Capital, a model and ambassador of the startup Giedre Dukauskaite, actress Gelminė Glemžaitė, a business angel Ieva Zubavičiūtė and a board member at Lithuanian Private Equity and Venture Capital Association Karina Andriukaitiene, and others.

Founded by Akvilė Meškauskaitė-Dobrajs, Sandra Pangonyte, and Danutė Rasimaviciute in Vilnius in 2014, The Knotty Ones works with over 70 female artisans from rural areas in Lithuania. The knitters use biodegradable yarn from family-run wool farms from around the world. The startup uses non-toxic, certified dyes, and works with artists who can hand-dye the yarn with natural herbs. In addition, garments packaging is compostable. 90% of the startup market is the US, UK, Australia, Germany, and other Western countries.

The Knotty Ones will use the investment for further expansion into international markets, specifically in the US, with a focus on wholesale and e-commerce. 

In 2020, it raised €500K from business angels Erin Gainer, LitBAN’s angel investor Aidis Dalikas, and Ieva Zubavičiūtė. 

Established in Vilnius in 2017, Coinvest Capital supports startups at early stages and co-invests with groups of business angels. The managing director is Viktorija Trimbel.