FARO Secures $6 Million to Drive Affordable Fashion and Tackle Textile Waste Across Africa
FARO raised $6 million to drive affordable fashion and combat textile waste. Funding led by JP Zammitt of Bloomberg with contributions from Presight Capital and Garage Ventures.
Fast-growing South African venture FARO raises $6M to source, refurbish and sell surplus clothing
Global fashion brands are struggling with billions of dollars’ worth of unsold inventory. Emerging markets like Africa rely on secondhand clothing imports, with 30% to 40% deemed unusable.
