Resale Tech Platform Archive Raises $30 Million to Reduce Environmental Impact of Retail

Archive, a California-based circularity tech startup, has raised $30 million in a Series B funding round to enhance its platform that facilitates merchandise resale for brands. Founded in 2021 with the goal of minimizing the environmental impact of retail, Archive collaborates with brands to develop tailored resale programs, allowing them to sell secondhand items at higher margins and reclaim inventory through various channels. With over 50 global partners, including The North Face and Dr. Martens, Archive plans to use the new funding to advance its resale intelligence software, expand globally, and innovate new products across multiple retail categories. The funding comes amid a surge in consumer demand for resale options, particularly among Gen Z, with the secondhand apparel market projected to grow significantly in the coming years. The round was led by Energize, with participation from several returning and new investors, and Eileen Waris from Energize Capital will join Archive’s board of directors. Resources: https://www.esgtoday.com/resale-tech-platform-archive-raises-30-million-to-reduce-environmental-impact-of-retail/