Lyra Ventures

We're excited about the launch of Bites' v2.0 AI-powered microlearning platform for frontline employee training. Here's why it matters: • 44% of frontline retail workers considered leaving their jobs in the next 3-6 months • Lack of career development is now the #1 reason for frontline retail employee attrition • Frontline employees want to feel a sense of belonging and see their impact within an organization • Companies with top-quartile employee experience are 2x more likely to achieve top-quartile customer experience Frontline employees form the backbone of industries from construction to retail. We are proud of how Bites has built a product that not only empowers the frontline workforce but also drives business performance. With the average cost of losing a single frontline retail employee at nearly $10,000, Bites' approach to frontline employee training is set to transform how businesses onboard, upskill, and retain their most valuable asset — their people. Small Bites of change lead to big impact. #FrontlineInnovation #FrontlineWorkforce #HRtech #EdTech #TimetoEvolve Eran Heffetz Tal Nagler Almog Hagai Horovitz Alon Kirmayer  👉 https://lnkd.in/ehUVMG9c

We are proud to be part of Darren Glenister's journey with Material Exchange, leading the way in digital transformation for fashion and reimagining the industry's future.

We’re thrilled that one of our portfolio companies, SuperCircle, has teamed up with the iconic brand GUESS?, Inc. as part of their customer recycling program, GuessAgain. Together, they're driving a powerful shift toward #circular fashion, making it easier than ever for consumers to recycle their old garments and contribute to a more sustainable future. SuperCircle will facilitate and manage the technology interface, collection, sortation and disassembly of items at #textilerecycling partners across the US. Read more here: https://lnkd.in/e2rv5ufS We’re proud to back visionary companies like SuperCircle that are not only redefining the industry but also leading the charge in sustainable innovation. #Sustainability #CircularEconomy #FashionTech #ESG #VentureCapital Chloe Marie Songer Stuart Ahlum Phong Nguyen Juliana Zaffari Mary Chiam Reina Nakamura Chieh Suang K. Debra Langley Alicia Teo Celine Leibfried Jonathan Price

The #dupe economy is on the rise, alongside #fakes and #counterfeits which now account for 3.3% of global trade, according to Entrupy's State of the Fake Report 2024. After authenticating $1.4B worth of handbags and sneakers in 2023, the report shows how counterfeiters are becoming more adept at using technology and marketing strategies to evade detection. #RepTok, where fake products thrive despite TikTok's anti-counterfeit policies, is a clear example. Counterfeiting poses risks not only to brands and the environment but also to public health. A 2022 study by the American Apparel and Footwear Association that found 36% of tested counterfeit clothing and footwear contained dangerous chemicals like arsenic and lead, posing long-term health risks. Read the full report here: https://lnkd.in/dTzzrsDP #dupes #fakes #luxury #authentication https://lnkd.in/e6Y_jF7k Vidyuth Srinivasan Will Tan Jake Stewart Natasha Khimji Jonathan Price Debra Langley Reina Nakamura Chieh Suang K.

#AIforfashion has been top of mind for innovators and brands alike, which is why we're excited to announce the launch of Frank 🐻, an AI sourcing assistant built by Material Exchange (a Lyra portfolio co). With the most up-to-date knowledge of the properties and quantities of stock from every supplier on the Material Exchange platform, Frank is not only uber cool but also, fast and efficient for brands sourcing fabrics. Material Exchange is a #DigitalSourcingPlatform—a place where brands and retailers can review, compare, and choose materials from #fabricsuppliers around the world. Historically, this has been an immensely time-consuming and laborious task, as Ben Felton explains: “There are literally thousands of data points for them to sift through to find the perfect match, but not anymore. Frank is going to revolutionize sourcing by enabling brands to find their perfect match at turbo speed." Material Exchange, founded in 2017, aims to reinvent sourcing by bringing digital capabilities and transparency to the traditionally opaque fabric sourcing market. It is led by a team of more than 70 industry experts across seven countries. Darren Glenister Dóra Lality Reina Nakamura Lauri Kokkila Robert Conway Nicola McClafferty Serge Tonoyan Debra Langley Chieh Suang K. Alicia Teo Celine Leibfried https://lnkd.in/dSxUjSdj

TikTok is at the forefront of #socialcommerce and to tackle the growing problem of #counterfeit sneakers appearing on TikTok Shop, they have expanded their partnership with Entrupy. According to RunRepeat, the counterfeit sneaker market - at $450 billion in 2021 - is estimated to be over five times the size of the legitimate sneaker market. This in the context that by 2032, the #sneaker #resale market is expected to see a 402% increase. Entrupy will be the official authentication provider of pre-owned sneakers for TikTok Shop U.S. — giving sellers access to the best-in-class authentication tools that are instrumental in establishing trust, maintaining quality standards and delivering a seamless positive experience for both sellers and shoppers. https://lnkd.in/eYn3TMdg Vidyuth Srinivasan Will Tan Jake Stewart Reina Nakamura Debra Langley Chieh Suang K. Jonathan Price Alicia Teo Celine Leibfried

We are excited about the launch of Digital Fashion Designer's Council (DFDC) whose mission is to weave digital fashion into the traditional fashion ecosystem. Brands need to engage with #digitalnatives by creating seamless experiences across physical and digital environments, but it is a difficult task: there are no universal standards for virtual and #phygital fashion while #interoperability across platforms remains a challenge. To solve this, DFDC has partnered with technology enablers such as Threedium, Beyond Studio, THE DEMATERIALISED and more, to build Reality Spectrum Matrix. A tool that will solve the interoperability challenge while enabling brands to focus on the product and consumer experience. Keep an eye on DFDC for more exciting collaborations and announcements! Mike Charalambous Angelides David Cash Lode Groosman Dusan Odobasic Xose Lois Fernandez Cañizares Kyriacos Kyprianou Sebastiano Mura Pierre Denis Debra Langley Reina Nakamura Chieh Suang K. Jonathan Price Alicia Teo Celine Leibfried Bettina von Schlippe Marjorie Hernandez https://lnkd.in/gwSADRmD

Great to see so many familiar faces here in Singapore, as well as welcoming new like-minded investors, advisors and founders on June 10 at Lyra's NRF 2024: Retail's Big Show Asia Pacific side-event. We gathered strategic locals as well as out-of-town VCs for a night of exchange on all things #retailtech. These kinds of curated events build important cross-border relationships that provide insights both for investors with an eye on the APAC region, as well as for founders who see regional and global expansion on their horizon. Reina Nakamura Debra Langley Chieh Suang K. Alicia Teo Greg Merrill Aliza Knox Didier MATTALIA Joyce Ng Marc Freydefont Massimo Volpe Chan Shawn Kit Brian Chua Yoshi Okubo Kazuya Hirata Wong Shu Ning Zara Safiullah Kano Takebayashi Mario Aquino Linda W. Marco Hadisurya Tomoyuki Kumabayashi Saurabh Bajpai Ali Jumabhoy Ben Moreau Aliza Knox Elis Kwek, CA James Conde Jeremy Ang C. H. Thong (Tony) Do Usman Khan Lodhi

It’s been a busy few days for our team in Singapore, as for the first time ever, National Retail Federation is hosting a second outpost of its Big Show in Singapore 🇸🇬 to focus on the APAC retail landscape. After meeting with Deputy Prime Minister Gan Kim Yong and NRF's Seth Webb to tour the Innovation Lab, our Venture Partner Debra Langley hosted a fireside chat with Greg Merrill, Global Head of Digital Transformation at Nike, to discuss the explosive growth of "Everywhere Commerce" and how brands and retailers can respond to the seismic shift in customer expectations. Startup Genome's recent report ranked Singapore as the #1 startup ecosystem in Asia and #7 globally. But let's not forget that Asia is made up of multiple geographies, cultures, and economies, all with unique opportunities and challenges. What's the best way for startups in the region to leverage that? What does it mean for Western businesses and retail-tech solution providers who want to serve Asia's fast-growing middle classes? The NRF 2024: Retail's Big Show Asia Pacific is an opportunity for innovative startups to showcase their insights and capabilities, and connect with a region-wide network of potential customers and partners. The event also complements the companies present at the NYC Big Show and amplifies NRF’s scope to become more global. Lyra Ventures serves on the NRF Innovation Advisory Committee and now the NRF APAC Advisory Board, and we are thrilled to see more startups from our home region becoming visible globally in NRF's ecosystem. Zara Safiullah Tusk Venture Partners Reina Nakamura Chieh Suang K. Jonathan Price Alicia Teo Celine Leibfried

“Isn’t recycling a hoax?” The difficulties surrounding the feasibility of recycling are a constant concern when brands look at circular solutions. Two years into their journey to make recycling in the fashion industry a reality, we can proudly say that SuperCircle and its 20-plus recycling partners have diverted more than two million textile products from landfills. Hoax who? 2 million pounds is incredible but relative to the size of the problem, it's just the start. Chloe Marie Songer and Stuart Ahlum spoke about the reality of recycling, the shifts in the industry and their journey in the April issue of Inc. Magazine. Follow the link to read about their work with UNIQLO, Reformation and other leading brands: https://lnkd.in/dPT4zMBp Reina Nakamura Debra Langley Chieh Suang K. Celine Leibfried Christine Goulay Jonathan Price Alicia Teo Suraya Goddard #circularity #circularfashion #sustainability #recycling