Modern Matter, a design company specializing in decorative and architectural hardware, has successfully raised $1.2 million in seed capital for its e-commerce expansion. The company plans to utilize these funds to further develop its e-commerce platform, expand its omni-channel distribution, and increase its team size. In addition, a new design studio and fulfillment center in Downtown Norfolk, Virginia is set to open in 2022. The Modern Matter e-commerce expansion is a strategic move to tap into the underdeveloped $400 billion U.S. home decor e-commerce market, leveraging proprietary technology to boost discovery, engagement, and transactions within the home fashion sector.
Introduction
NORFOLK, Va. –Modern Matter, a design company and manufacturer of decorative and architectural hardware, announced today that it raised $1.2 million in seed capital. Modern Matter collaborates with leading designers to develop exclusive hardware designs for luxury homeowners. It also targets interior designers, architects, and hotels with its unique trade program to provide products for prestigious residential and commercial projects.
Funding and Expansion Plans
The company will use the new funds to accelerate the development of its e-commerce platform, build out omni-channel distribution, and grow its team. In 2022, it will open a new design studio and fulfillment center in Downtown Norfolk, Virginia.
Investors and Support
Leading investors include TiE DC, 757 Angels, Bassett Furniture CEO Rob Spillman, and former Amway EMEA CEO Samir Behl. TiE DC Board Member Rajesh Rai and 757 Angels Executive Director Monique Adams expressed their support for Modern Matter and its diverse founding team.
Growth in Home Fashion
With less than 20% of sales flowing through online channels, the $400 Billion U.S. Home decor e-commerce market is massively underdeveloped. Modern Matter is leveraging proprietary technology to drive discovery, engagement, and transactions in the home fashion space.
About Modern Matter
Handcrafted from solid brass and accented with luxury materials, Modern Matter’s unique and proprietary designs are redefining hardware. Formed in 2019, its customers include luxury homeowners, leading furniture brands, and hospitality groups. Modern Matter products are available at modern-matter.com and in select luxury hardware showrooms.
Question & Answer
What is Modern Matter’s specialty?
Modern Matter specializes in decorative and architectural hardware.
How much seed capital did Modern Matter raise for its e-commerce expansion?
Modern Matter successfully raised $1.2 million in seed capital for its e-commerce expansion.
What are Modern Matter’s plans for utilizing the raised funds?
The company plans to further develop its e-commerce platform, expand its omni-channel distribution, and increase its team size.
Where is the new design studio and fulfillment center of Modern Matter set to open?
In 2022, Modern Matter is set to open a new design studio and fulfillment center in Downtown Norfolk, Virginia.
