Mango, the esteemed European fashion group, has taken a significant stride towards the tech-driven future by investing in Union Avatars, a groundbreaking digital identity platform specializing in diverse avatar styles, including hyper-realistic ones.
The investment comprises financial support through a convertible participation loan, solidifying Union Avatars’ position in Mango StartUp Studio, the company’s thriving accelerator program. This strategic collaboration offers entrepreneurs an unparalleled opportunity to gain firsthand insights into Mango’s operations, enabling them to scale up their business model.
In addition to financial backing, Union Avatars will receive valuable mentorship and consultancy sessions from Mango’s expert team, spanning market knowledge and technology applications relevant to their innovative business model.
Mango’s vision extends beyond the investment, with ongoing explorations of pilot trials for hyper-realistic avatars across various touchpoints within the company’s value chain. This forward-thinking approach demonstrates Mango’s commitment to revolutionizing the fashion industry with cutting-edge technology.
This marks the fourth investment facilitated by Mango StartUp Studio since its inception in 2022. The accelerator’s previous ventures include a sustainability-focused start-up specializing in textile waste resale, Payflow—an on-demand salary and flexible remuneration business, and La Más Mona—a platform offering rental solutions for party dresses and accessories.
Union Avatars, founded by Cai Felip and Jordi Conejero in 2020, strives to shape the future of digital identity by empowering companies and users with tools to create avatars across social media, virtual reality environments, and gaming platforms. The platform’s commitment to interoperability ensures seamless integration of identities across different online mediums.
Mango’s partnership with Union Avatars sets a compelling precedent for the fusion of fashion and technology. As the fashion industry undergoes a digital transformation, this strategic collaboration promises to usher in a new era of personalized and immersive experiences for customers worldwide. Together, they are poised to redefine the future of digital identity and elevate the fashion landscape to new heights.