Mango has invested in Union Avatars to strengthen its technology and digital identity. Union Avatars provides tools to create avatars in different styles on social media, virtual reality environments, and gaming. It also offers interoperability of identity among different platforms.
As part of the investment, Mango Start-up Studio will offer financial support to Union Avatars through a convertible participation loan. Union Avatars, founded in 2020 to help companies and users give form to the future of digital identity, will receive mentoring and consultancy sessions from various Mango experts in areas like market knowledge and technology applied to the business model.
This is Mango Start-up Studio’s fourth investment since it launched in 2020. The accelerator has so far invested in a sustainability start-up specializing in the resale of textile waste, payflow which is an on-demand salary and flexible remuneration business, and La Mas Mona – a platform for renting party dresses and accessories.
Mango, one of Europe’s leading fashion groups, is also looking to explore pilot trials to create hyper-realistic avatars that can be used within different points of its value chain.
Also Read: Resale Platforms: A Rising Trend Indicating Shift in Consumption Habits
