Nessiam, an inclusive lingerie tech startup located in Morocco, secured a 3 million Dirhams (USD306,000) equity funding from the CDG Group’s investment arm, CDG Invest, as part of the 212 Founders program.
As part of this investment, Nessiam secured local support with the goal of creating its leadership on the Moroccan market and achieving its strategic objectives, which included extending its position on the Moroccan market and expanding into the MENA region.
Nessiam will use the funds to build various product lines for the upcoming summer season, such as swimwear, accessories, and so on, in order to become a benchmark brand in the MENA region.
“Nessiam has demonstrated resilience and inventiveness in democratising an ethical brand in a fashion market dominated by fast fashion businesses. We won this challenge by incorporating technology into the project’s DNA, such as a digitalized sales process, user experience, marketing, community interactions, and so on. We were honoured to assist them in developing a strong brand on Moroccan soil and allowing them to take the initial steps in the MENA area. Following the lifting, we will make every effort to make Nessiam a prominent player in the region’s Fashion Tech,” Youssef Mamou, Director of the 212 Founders Programme — CDG Invest, said.
Following the completion of this latest round of funding, the 212 Founders program will have raised 57 million Dirhams ($5.8 million) in seed and Series A funding since 2019.
Mohammed Damiri and Hamza Aouadi launched Nessiam in 2021 in response to a simple observation that the majority of Moroccan consumers had a true demand for high-quality underwear in all sizes at a cheap price.
The Nessiam brand provides a diverse and specialized product line to fulfill the demands of all women. Essentially, the company sells attractive, high-quality items to women at a fair price.
“Through Nessiam, Hamza Aouadi and I hope to do more than just meet market demand by offering products to our consumers at lower pricing. We also want to give ALL women a voice through our collections. This vision has become a reality thanks to the support of 212 Founders, who have enabled us to establish a brand that pursues our beliefs,” Mohammed Damiri, co-founder of Nessiam, said.