10 years ago

LoveCrafts Raises $20 Million to Fuel Growth in Crafting Community

  • LoveCrafts, a crafting community, marketplace and e-commerce startup, has raised $20 million in Series B funding led by Highland Europe with participation from Balderton Capital

  • The company plans to use the funding to invest in its technology and grow revenue, particularly in the U.S

  • and German markets

  • The company, headquartered in London, has raised $30 million to date and believes the crafts industry is worth $100 billion.

      • ProblemRetail

      "The craft industry is a $100 billion market with a huge unmet demand for online tools and resources for crafters. People are looking for inspiration, patterns, materials, and a community to share their creations. There is no central platform that provides all of these things in one place."

      Solution

      "LoveCrafts is a comprehensive platform for crafters, providing a marketplace for patterns and supplies, a social community to connect with other makers, and educational resources. It offers a complete craft journey, from inspiration to production to sharing results with a global community. "

      Covered on