Irish athleisure clothing and accessories brand Gym+Coffee has closed a funding round, raising a €17 million investment by CastleGate Investments, led by Roy Barrett and Tommy Kelly, alongside California investment and marketing firm West Ventures. According to the Irish newspaper Independent.ie, Castlegate is headed by former Goodbody Stockbrokers managing director Roy Barrett and manages the family wealth of Tommy Kelly, the EShopWorld (ESW) founder, who last year sold his remaining stake in the online sales platform for fashion brands in a deal valuing the business at more than €1 billion.
The funds raised by Gym+Coffee will support growth in the U.K. and new markets, including Germany. The carbon-neutral brand also wants to use part of the funding to help it attain B Corp status. Gym+Coffee is a DTC brand founded in 2017 by Niall Horgan, Diarmuid McSweeney and Karl Swaine. It has 12 physical outlets in Ireland and the U.K. besides the online shop.
CEO Horgan said, “We have built a strong foundation, but we know we have loads to improve on to become a global player in this space. We have huge ambitions for Gym+Coffee. Our team and community have given us so much support to date, and we want to make sure we match that support with a relentless drive to grow our business in a way that makes us and them proud.”
