LoveCrafts raises $20m
LoveCrafts, an online community for crafts, has raised $20m in a series-B round led by Highland Capital Partners Europe.
The funding round was joined by existing investor Balderton Capital. The newly raised capital will be used to invest in technology and expand in the US and Germany.
Previous funding
Balderton led a $7.5m investment in LovaCrafts in March 2015. Previously, the business raised $2.5m in seed capital from True Capital and Venrex.
Company
Established in 2012, LoveCrafts is an online community for craftspeople. The business operates dedicated sites for certain crafts including LoveKnitting.com and LoveCrochet.com, where crafters can share ideas and creations.
The company generates revenue through the sale of designs and supplies.
LoveCrafts is headquartered in London and has warehouses in Manchester and Chicago. The company recently launched in Germany, employs 80 people and counts 50,000 customers.
People
LoveCrafts was founded by Edward Griffith, Nigel Whiteoak and Cherry Freeman.
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