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Mango has announced it is investing in Union Avatars, a digital identity platform that creates virtual avatars in different styles, including hyper-realistic avatars.
The fashion company will offer financial support to the start-up through a convertible participation loan, and Union Avatars will join Mango StartUp Studio, the company’s start-up accelerator programme, allowing it to scale up its business model.
As part of the programme, Union Avatars will receive mentoring and consultancy sessions from various Mango experts in areas such as market knowledge and technology.
Mango said it will continue to explore different pilot trials to create hyper-realistic avatars for use in different points of the company’s value chain.
This is the fourth investment that Mango StartUp Studio has made since it launched in 2022. So far, the accelerator has invested in a sustainability start-up specialising in the resale of textile waste; Payflow, an on-demand salary and flexible remuneration business; and La Más Mona, a platform for renting party dresses and accessories.
Union Avatars was founded by Cai Felip and Jordi Conejero in 2020, and helps companies and users “give form to the future of digital identity” by providing tools to create avatars in different styles on social media, virtual reality environments and gaming.
