FARO

FARO is a recommerce startup addressing the paradox of surplus unsold inventory in developed markets and textile waste in emerging markets. It sources excess and returned clothing from major brands, reconditions them, and resells them at discounted prices in South Africa, creating affordable fashion and reducing waste. The company aims to scale its physical retail presence across Africa and beyond.

Funding Round:

Funding Amount: $6M

Date: 15-Jan-2025

Investors: Presight Capital, Gharage Ventures, E4E Africa, Mato Perić (MPGI), Leonard Stiegeler (Pulse), Oliver Merkel (Flink), Vikram Chopra (Cars24), Tushar Ahluwalia (Razor Group), Sudeep Ramnani (885 Capital), Kresten Buch (88mph), JP Zammitt

Markets: Fashion, Recommerce, Retail

HQ: Lake Mary, Florida, United States

Founded: 1981

Website: https://www.faro.co/

LinkedIn: https://www.linkedin.com/company/faro-technologies

Twitter: https://twitter.com/FARO_TechInc

Instagram:

Facebook: https://www.facebook.com/FAROTechnologies

Crunchbase:

Pitchbook: https://pitchbook.com/profiles/company/41279-23