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St. Louis swimwear startup raises $2 million to become the next big disrupter in retail

Summersalt, which is based at the downtown St. Louis T-REX innovation center, will use the investment to scale its business.
Courtesy: STL Business Journal

Summersalt is less than a year old, but the St. Louis swimwear startup is suited to be the next disrupter in retail.

The company has closed on a $2 million seed round that was led by Dundee Venture Capital with participation from Cultivation Capital's Spirit of St. Louis Fund, Breakout Capital, Revolution’s Rise of the Rest Seed Fund, Victress Capital, M25, The Syndicate Fund and Silas Capital.

Summersalt, which is based at the downtown St. Louis T-REX innovation center, will use the investment to scale its business. That includes boosting its marketing with social media influencers and pop-up shops in New York and Los Angeles, adding depth to its product line and hiring 12 people to build its e-commerce team over the next 18 months, said co-founder and CEO Lori Coulter. The latest round brings the company's total funding to $2.6 million.

Coulter and her co-founder, Reshma Chattaram Chamberlin, who serves as chief digital and brand officer, sell their swimwear online direct to consumers for $95 and under. They said they can better respond to consumer demand by cutting out wholesalers and retailers, bringing new products to market within six weeks. The average for the industry is 12 months, according to Coulter.

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