Luxury Cashmere Brand Naadam Closes $16 Million Series A

Naadam, a sustainable, luxury cashmere brand based in New York, raised $16 million in Series A funding led by private equity firm Vanterra Capital, with participation from Torch Capital, U-Start Club, Trail Post Ventures, and Plug & Play Ventures.

Co-founded and launched by Matthew Scanlan, Diederik Rijsemus, and Hadas Saar in 2015, Naadam strives to deliver unparalleled quality cashmere products through a sourcing model that supports supply chain sustainability with non-profit work.

Naadam plans to use the funding to strategically invest in marketing, advertising, and brand communication initiatives to support continued triple digit growth year over year. The new capital will also be used to drive the brand’s retail expansion plan, with permanent brick and mortar locations opening this year.