{"id":141866,"date":"2022-12-14T10:12:00","date_gmt":"2022-12-14T11:00:00","guid":{"rendered":"https:\/\/hispanicprwire.com\/english-former-head-of-yeezy-adidas-innovation-lab-launches-fctry-lab-with-6-million-fundraise-representing-one-of-the-largest-investments-in-a-black-founder-in-2022\/"},"modified":"2022-12-14T11:20:02","modified_gmt":"2022-12-14T15:20:02","slug":"el-exdirector-de-yeezy-adidas-innovation-lab-lanza-fctry-lab-con-una-recaudacion-de-fondos-de-6-millones-que-representa-una-de-las-mayores-inversiones-en-un-fundador-afroamericano-en-2022","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/el-exdirector-de-yeezy-adidas-innovation-lab-lanza-fctry-lab-con-una-recaudacion-de-fondos-de-6-millones-que-representa-una-de-las-mayores-inversiones-en-un-fundador-afroamericano-en-2022\/","title":{"rendered":"Former Head of Yeezy-Adidas Innovation Lab Launches FCTRY LAb with $6 Million Fundraise; Representing One of the Largest Investments in a Black Founder in 2022"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">LOS ANGELES<\/span>, <span class=\"xn-chron\">Dec. 14, 2022<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; <b><u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3735517-1&amp;h=227259256&amp;u=https%3A%2F%2Ffctry.la%2F&amp;a=FCTRY+LAb\" target=\"_blank\" rel=\"nofollow\">FCTRY LAb<\/a><\/u><\/b> is a BIPOC-led, LA-based footwear prototyping lab and venture studio aiming to democratize sneaker production and open-source innovation for emerging and established designers and brands of all sizes. FCTRY LAb&#8217;s fundraise for their launch on <span class=\"xn-chron\">December 15th<\/span> is one of 2022&#8217;s largest investments in a Black Founder.<\/p>\n<div id=\"prni_dvprnejpgfd2eleft\" dir=\"ltr\" style=\"width: 100%; text-align: left;\"><img decoding=\"async\" id=\"prnejpgfd2eleft\" title=\"FCTRY LAb Co-Founders Omar Bailey and Abhishek Som\" src=\"https:\/\/mma.prnewswire.com\/media\/1967398\/Omar_and_Abhi.jpg\" alt=\"FCTRY LAb Co-Founders Omar Bailey and Abhishek Som\" align=\"middle\"\/><\/div>\n<p>Founded by <b><span class=\"xn-person\">Omar Bailey<\/span><\/b> (Former Head of Yeezy-Adidas Innovation Lab) and <b><span class=\"xn-person\">Abhishek Som<\/span><\/b> (Former Wall Street &amp; Private Equity Executive), FCTRY LAb is an independent innovation studio that is US-based to avoid the risks and delays of overseas supply chains, thus shrinking product development time from 8-12 months to a short 1-3 months. Making high-technology accessible, FCTRY LAb is working to provide equity in an industry where large sneaker corporations often make an overwhelming majority of profits off the creative power of minority designers, influencers and athletes.<\/p>\n<p>This initial <span class=\"xn-money\">$6 Million<\/span> tranche included a diverse group of venture capital firms, top professional athletes and a myriad of pedigreed angel investors. Investors include\u00a0the <b>Co-Founder of <i>Tinder<\/i><\/b> (via Time Zero Capital), <b>Co-Founder of <i>WeWork<\/i><\/b>, the <b>West Coast Head of Warburg Pincus<\/b>, and a <b>consortium of <i>NBA<\/i> &amp; <i>NFL<\/i> stars via <span class=\"xn-location\">Chicago<\/span> based Aurelien Capita<\/b>l. Venture capital investment was led by the LA-based, <i>Pay-Pal<\/i>-backed <b><i>Slauson &amp; Co, <\/i><\/b>with additional investment from<b> Relay Ventures<\/b>,<b> Elysian Park Ventures<\/b> (the private investment arm of the Los Angeles Dodgers ownership group), <b>Level One Fund <\/b>&amp;<b> Fog City Capital<\/b> among others.<\/p>\n<p><span class=\"xn-person\">Omar Bailey<\/span> helped transition the gap from cutting edge conceptual design into physically wearable footwear during the <span class=\"xn-money\">$1 Billion<\/span> revenue growth of Yeezy-Adidas. With over 20 years of global product development and manufacturing practice as a design engineer, his other experiences include developing footwear for entertainers such as <b>Jay-Z and<\/b> <b>Lady Gaga,<\/b> athletes such as <b>Karim Benzema<\/b> and working alongside culturally-impactful brands like <b><i>Supreme<\/i>, <i>New Balance<\/i>,<i> K-Swiss<\/i> &amp; <i>Timberland<\/i><\/b>. <b><span class=\"xn-person\">Satyan Gohil<\/span>, <\/b>also a footwear prototyping and development veteran at Yeezy-Adidas, has joined FCTRY LAb as Head of Innovation. In a short period of time FCTRY LAb has already designed, prototyped and manufactured multiple lines of collaborative footwear with top design and brand partners and a reigning Super-Bowl winner.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"display: block; font-size: 1.17em; margin-block-start: 1em; margin-block-end: 1em; margin-inline-start: 0px; margin-inline-end: 0px; font-weight: bold; text-align: left;\" role=\"heading\" aria-level=\"3\"><b>About FCTRY LAb<\/b><\/div>\n<p>FCTRY LAb is a footwear innovation lab based in <span class=\"xn-location\">Los Angeles, California<\/span>, repurposing state of the art technology in additive manufacturing &amp; 3D printing (traditionally used in aerospace and defense industries) with traditional knit and footwear development processes to create a one of a kind, end-to- end facility for footwear design, development and prototyping. The innovation lab is a bridge between product creation and large-scale manufacturing. FCTRY LAb has partnered with Stratasys Ltd. (SSYS:NASDAQ), for use of its advanced 3D printing technology.\u00a0FCTRY LAb will follow ESG &amp; sustainable development practices. B2B inquiries and more information is available at <u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3735517-1&amp;h=918513417&amp;u=http%3A%2F%2Fwww.fctrylab.com%2F&amp;a=www.fctrylab.com\" target=\"_blank\" rel=\"nofollow\">www.fctrylab.com<\/a><\/u>.<\/p>\n<p class=\"prntac\">Press Contact | <u><a href=\"mailto:media@fctry.la\" target=\"_blank\" rel=\"nofollow\">media@fctry.la<\/a><\/u><\/p>\n<div id=\"prni_dvprnejpg9aadleft\" dir=\"ltr\" style=\"width: 100%; text-align: left;\"><img decoding=\"async\" id=\"prnejpg9aadleft\" title=\" \" src=\"https:\/\/mma.prnewswire.com\/media\/1967931\/FCTRY_Lab_Logo.jpg\" alt=\" \" align=\"middle\"\/><\/div>\n<p>Photo &#8211; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3735517-1&amp;h=4159452346&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1967398%2FOmar_and_Abhi.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1967398%2FOmar_and_Abhi.jpg\" target=\"_blank\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/1967398\/Omar_and_Abhi.jpg<\/a><\/p>\n<p>Logo &#8211; <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3735517-1&amp;h=2279291156&amp;u=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1967931%2FFCTRY_Lab_Logo.jpg&amp;a=https%3A%2F%2Fmma.prnewswire.com%2Fmedia%2F1967931%2FFCTRY_Lab_Logo.jpg\" target=\"_blank\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/1967931\/FCTRY_Lab_Logo.jpg<\/a><\/p>\n<p>SOURCE  FCTRY LAb<\/p>\n<\/div>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">LOS ANGELES<\/span>, <span class=\"xn-chron\">Dec. 14, 2022<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; <b><u><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3735517-1&amp;h=227259256&amp;u=https%3A%2F%2Ffctry.la%2F&amp;a=FCTRY+LAb\" target=\"_blank\" rel=\"nofollow noopener\">FCTRY LAb<\/a><\/u><\/b> is a BIPOC-led, LA-based footwear prototyping lab and venture studio aiming to democratize sneaker production and open-source innovation for emerging and established designers and brands of all sizes. FCTRY LAb&#8217;s fundraise for their launch on &lt;span&#8230;<\/p>\n","protected":false},"author":1,"featured_media":141867,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-141866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/141866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=141866"}],"version-history":[{"count":"1","href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/141866\/revisions"}],"predecessor-version":[{"id":141873,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/141866\/revisions\/141873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media\/141867"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=141866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=141866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=141866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}