MakersKit, creator of do-it-yourself craft boxes and how-to video tutorials, has raised $1.5 million seed funding.
The round was led by Tribeca Venture Partners, with support from Bertelsmann Digital Media Investments, Mesa+, Greycroft Partners and Vayner RSE.
MakersKit began as a presenter of live workshops in San Francisco before co-founders Mike Stone and Jawn McQuade decided to package their sessions into at-home kits with instructional videos. The company moved its headquarters to L.A.’s Westlake neighborhood in August after business picked up.
The company, which scored huge accounts with Nordstrom’s and Urban Outfitters in the last two months, will be relocating this week to a 6,000-square-foot space downtown, which will include a permanent workshop space available for the public.
“We wanted to keep it in-house, create jobs and also reduce costs so we thought L.A. was the perfect move because more than half our materials originate from here,” said Stone, MakersKit’s chief executive and co-founder. Since setting up in Los Angeles, the company has seen its margins rise by 5 percent.
The funding will allow the startup to further expand its operations and scale its production. Stone said the company is looking to hire at least 10 positions in Los Angeles in marketing, digital media and product design.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Epoxy Raises $6.5 Million Series A
- FameBit Raises $1.4 Million
- Kin Secures $12 Million Series C Round
- TapZen Receives $8 Million from Tencent
- Dotstudioz Launches Digital Distribution Platform
- Fuisz Media Raises $2.1 Million Seed Round
- Privlo Raises $3.8 Million Seed, $350 Million Debt Financing
- Warner Bros. Debuts Media Camp Graduates