Palette® (formerly SwatchMate) has introduced its new brand identity, and announced it has successfully closed a $1M Series A funding round. Palette Chairman, Adam Lewis, ex-Managing Director of McKinsey Australia explained that the capital raising builds on the $150k Palette raised on crowdfunding platforms Kickstarter & Indiegogo in 2014 to fund the production of the company’s first product—Cube, the portable colour digitiser.
“The speed at which the funds were raised and the calibre of the investors is a great endorsement of the founding team. Palette’s growth in the preceding 12 months and its plans for the future.” Lewis commented.
Lewis went on to explain that Palette is a world-leader in colour digitisation, providing a modern solution to the age old problems faced by designers, artists and trade painters in colour selection and matching. He went on to Add that the Series A funds will be allocated to the expansion of Palette’s retail strategy and international corporate partnerships, as well as funding the company’s growing working capital and staff resource needs.
“We are excited to announce our new brand identity as Palette. It’s the first step in the process of positioning the business for the future,” says Djordje Dikic, CEO and Co-founder of Palette. “Our Series A raise also injects the capital required to meet the rapidly growing consumer interest in our products.”