Wavemaker Impact Invests in Nul to Revolutionize Fashion

Prime Highlights:

Wavemaker Impact invests $500,000 into Nūl for over-production in fashion.
Nūl is an AI tool that helps fashion brands improve demand forecasts and better manage inventory.

Key Facts:

Fashion is responsible for 6-10% of global carbon emissions.
Roughly 30% of those products ultimately become waste.

Key Background:

Nūl Global Technologies Pte, part of Wavemaker Impact, a Southeast Asian climate tech venture builder, has been launched. Ltd for a $500,000 pre-seed investment to Nūl. That is exactly what gives rise to Nūl, an AI-powered climate tech start-up, co-founded by Malini Kannan and Raghav M.S. in Singapore and working to enable fashion brands and apparel companies to harness the power of state-of-the-art AI technology to decrease overproduction and enhance inventory management.

However, the fashion industry contributes 6–10% of greenhouse gas emissions globally. Manufacturing a single piece of clothing could release up to 6 kg of CO2 emissions. More than 30% of fashion products are left unsold, so they are wasted through markdowns, recycling or disposal, often reaching 7-10% of a brand’s revenue. Many brands suffer stockouts of high-demand items, leading to lost revenue opportunities. Nūl’s technology looks to eliminate these inefficiencies by reducing waste to improve profitability.

Nūl uses AI-led solutions that can seamlessly align with a brand’s existing operations, extracting real-time insights from existing data to aid in planning demand, production and inventory. Focusing on medium-sized fashion brands, Nūl adapts its solution to the issue of rain drops and minimum returns per central warehouse, for stock variations per size, style, color and location. AI-driven approach by Nūl helped rebalance end-of-season inventory across diverse sales channels during pilot projects in Southeast Asia which resulted in ~10% revenue uplift.

Wavemaker Impact’s $500,000 investment will fuel the growth of Nūl’s pilot projects across Southeast Asia, deepen partnerships, and commercialize its technology on a global scale. Marie Cheong, Founding Partner, Wavemaker Impact said, Nūl’s data-driven solutions have the potential to improve sell-through rates by over 50%, and reduce emissions related to overproduction. By doing so, each participating brand may be able to prevent 7,500 metric tons of CO2 emissions annually, positively impacting sustainability in the fashion industry.