Dai raises two million dollars in crowdfunding campaign

Performance wear brand Dai has announced the closing of a two million dollar investment round, which it said was backed by a crowdfunding campaign led by women.

In a release, Dai founder and CEO Joanna Dai said the brand’s target was met within a few hours and, once closed, was 164 percent overfunded.

The campaign was supported largely by the B Corp’s own customer base, allowing them to become shareholders and giving them the opportunity to help in building the company’s future.

“Raising investment is no easy feat especially in the current environment, and this crowdfund is a testament to the incredible female-led community we have built,” Dai added.

Since launching in 2017, the company has opened its first permanent store and has achieved over 2.4 million dollars in annualised gross recurring revenue.

It plans to use its new investment to continue its mission toward becoming the “go-to performance brand” for women by scaling channels of growth, growing its team and operations and expanding internationally.