Estonian business angel Tarmo Renter invested in Danish fashion startup Virtuall
Estonian business angel Tarmo Renter, who recently sold his software development company Avalanche Laboratory, invested in Danish fashion startup Virtuall. A €829K pre-seed round was led by Export and Investment Fund of Denmark (EIFO), Italian fashion tech accelerator Styleit, and Swedish accelerator Antler. Business angels Morten E. Wulff, Bjorn Bruun, and Anders Gustafsson also participated in this round.
Founded in 2022 in Copenhagen by Jonas Wallengren, Felix Wigand, Markus Helle Pettersson, and Latvian entrepreneur Nauris Dorbe, Virtuall designed a virtual brand management platform for fashion companies. The startup helps clients publish and manage their brand products in games and virtual channels, for instance, Snapchat, Instagram, TikTok, RPM, Spatial, Roblox, Zepeto, and Hiber. In addition, the buyer can try on the brand product online. To do it, he has to scan the QR code of the clothing item, hold the front lens of his phone towards him, and project the clothing item in an AR filter from the front and both sides of him.
According to the startup, the platform allows to turn fashion designs into AR filters or avatar wearables in games. The technology is automated, it provides fast and easy publishing of brand products to client's channels through a single interface.
Virtuall will use the investment to develop the platform and improve the speed of delivery through automation and scaling sales. The startup plans to hire employees in Denmark, Latvia, and Italy.
Tarmo Renter is a founder of Avalanche Laboratory and a business angel. The average ticket ranges from €50K to €100K. The investor focuses on the companies with revenue and created market fit. He has an interest in the following areas: enterprise process automation, electronics, and IoT startups. Apart from Virtuall, Tarmo Renter plans to invest in five more startups this year. In June 2023, Tarmo Renter sold 49% of his software development company Avalanche Laboratory to Rain Kirjanen, the CEO of Avalanche.
