STARTUP WATCH- Online fashion rental service La Reina raised an undisclosed six figure seed funding round from Algebra Ventures, 500 Startups, and unnamed angel investors, according to a press release(pdf). The funds will be used to finance the launch of the company’s new fashion subscription service “The Box” — a weekly package of clothes to be worn and returned the next week, which La Reina co-founder Ghada Eltanawy says will decrease each subscriber’s fashion footprint by up to 85%. La Reina had previously raised USD 1 mn in series A funding from Algebra Ventures and 500 Startups in 2018. La Reina’s sustainable approach to retail fashion and innovative business model saw Eltanawy named one of Forbes’ most influential women behind online brands in the Middle East in 2020.

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