The Lithuania-based knitwear brand, The Knotty Ones, has successfully secured €250,000 in a bridge round of funding from Coinvest Capital and a diverse group of female angel investors.
The company is now gearing up for further expansion in its key markets, with a primary focus on the United States.
Founded in 2014 by three female friends – Akvilė Meškauskaitė-Dobrajs, Sandra Pangonyte, and Danutė Rasimaviciute – The Knotty Ones stands as a sustainable clothing brand deeply rooted in the rich heritage craft of knitting from Lithuania.
Since its initial investment round in 2020, the knitwear brand has witnessed exponential growth while remaining committed to sustainability as its core ethos.
Despite selling 90% of its garments in foreign markets like the USA, UK, Australia, Germany, and other Western nations, the company maintains its production primarily locally, drawing inspiration from Baltic knitting traditions.
Furthermore, The Knotty Ones prides itself on ethical sourcing, collaborating exclusively with suppliers such as local family-run wool farms from various corners of the world.
This latest funding round saw the participation of notable female investors, including Viktorija Trimbel, who serves as the Managing Director of Coinvest Capital, and Giedre Dukauskaite, a renowned model and brand ambassador.
Additionally, a newly formed syndicate of female business angels, comprising fashion strategist Ieva Zubavičiūtė, actress Gelminė Glemžaitė, and lawyer Karina Andriukaitiene, lent their support to the company.
The €250,000 injection of capital is earmarked for The Knotty Ones’ strategic expansion into international markets, with a strong emphasis on the United States.
Their primary objectives involve catering to the needs of their foreign customer base through wholesale and e-commerce channels.