MORI snags Series A funding


London-based MORI, creator of clothing for babies and toddlers, has secured over 4 million pounds in Series A funding. Guinness Asset Management led the round with participation from other investors that included JOBI Capital and 500 Startups.

PRESS RELEASE

LONDON – May 30, 2019 – MORI (minimori.com), creators of the softest and highest-quality premium clothing from newborn up to 4 years, which have been made from using natural sustainable materials, announced today that it has secured over £4 million Series A round of financing. Guinness Asset Management led the round with participation from JOBI Capital, 500 Startups, and other existing investors. The investment will enable MORI to continue its growth in the UK, expand into international markets with a focus on the U.S., open branded storefronts, and grow its internal team. MORI also plans on creating a unique direct-to-consumer subscription and membership program that will disrupt a very crowded yet traditional market.

Founded in 2015, MORI products have quickly become a must-have for parents and gift givers alike, with celebrity fans including Kim Kardashian, Louise Roe, and Chiara Ferragni. Their thoughtfully created products are designed to ensure babies and toddlers, and therefore parents, have a peaceful sleep every night. Unlike many baby and toddler clothing companies, MORI boasts strong customer loyalty thanks to its unparalleled engagement with customers. In the past year, MORI has sold over 30 thousand of their bestselling Sleepsuits and nearly 10,000 Clever Sleeping Bags to more than 35,000 loyal customers worldwide. Outside of their online presence, MORI’s products are stocked at 215 locations globally, with 110 stores across the UK and North America.

In addition to its product range, the brand’s exclusive subscription and membership service Sleep Club delivers an award-winning sleepsuit every month to its customers. The team is now investing further in technology to scale the service to a wider audience while allowing more flexibility to its members, as well as the introduction of Sleep Club to the U.S. market in 2020.

Founder Akin Onal, has a heritage rooted in textiles, and many of his close friends and family are amongst MORI’s trusted factories. This means that MORI can ensure every product is manufactured using sustainable sources without compromising quality, and in an environment with safe and fair working conditions. The brand’s signature fabric is made from organic cotton and bamboo, resulting in a super soft, sustainable textile that can be worn, washed, and loved for generations to come.

“Since 2015, we have put the wellbeing of families at the forefront of our mission by creating the highest quality and sustainable products for babies and toddlers. The team’s creativity, expertise and hard work is reflected in our growth from a driven start-up to a disruptive scale up business. Today, with the support of our investors, we are excited for the next stage of MORI’s growth and we are dedicated to build a brand that is loved and trusted by parents globally.” – Akin Onal, Founder and CEO, MORI.

About MORI:
Founded in 2015 by Akin Onal, MORI grew from a passion to create the softest and safest baby essentials combining innovative designs with natural materials from sustainable sources suitable for newborn up to 4 years. Today the company boasts nearly 35,000 customers in over 50 countries, providing families with quality clothing to encourage little ones to sleep and play comfortably, always. Globally their wholesale accounts reach 215 outlets with key accounts being Selfridges, Harvey Nichols, Fenwick & AlexandAlexa in the UK, The Tot and Sprout San Francisco, and Yoya NYC in North America and international companies such as The Helen Marlen Group, Takashimaya & Ludwig Beck.

MORI is an award-winning brand based in London, dedicated to providing the most comfortable clothing for babies and toddlers; all with cleverly designed features to make parenting simpler. Their signature fabric is made from organic cotton and bamboo which is exceptionally soft, breathable and thermoregulating to keep little ones safe and comfortable every day. Prices range from $11.50 for a headband to $89.50 for MORI’s award winning Clever Sleeping Bag.

About Guinness Asset Management:
Guinness Asset Management is a London-based specialist fund management company that is recognized as being a leader in energy investing. Together with its US sister company, Guinness Atkinson Asset Management, the firm currently manages US$800 million. Guinness Asset Management manages EIS portfolios for a large number of clients invested across renewable energy companies, the firm also runs seven quoted funds focusing on global long only equity investing. The Guinness range of quoted funds includes The Guinness Global Energy Fund, the Guinness Alternative Energy Fund, the Guinness Global Equity Income Fund and the Guinness Global Money Managers Fund.

Tim Guinness founded the company in 2003 following the acquisition of previous business, Guinness Flight Global Asset Management, by Investec Asset Management. Guinness Asset Management is authorized and regulated by the Financial Services Authority. Guinness Atkinson Asset Management is authorized and regulated by the SEC.

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!