VASILY Inc. (headquarters: Shibuya-ku, Tokyo) announced that it has raised a total of 300 million yen through a third-party allotment of new shares. The three companies that received the shares are Globis Capital Partners, Inc. (Chiyoda-ku, Tokyo), ITOCHU Technology Ventures, Inc. (Minato-ku, Tokyo), and GMO VenturePartners, Inc. (Shibuya-ku, Tokyo). iQON is a smartphone app that allows users to freely combine fashion items to create and post outfits, and to interact with other users. Approximately 300,000 outfits have been created to date. More than 20,000 outfits are posted each month, and fashion items used in these posts are favorited more than 1 million times each month. Items used in outfits can be purchased with a single tap from affiliated e-commerce sites. Monthly sales via iQON have grown approximately 12-fold in the 10 months from the smartphone app's release in March 2012 to December of the same year. Some e-commerce sites have reportedly achieved monthly sales of over 20 million yen.

With this capital increase, the company will continue to develop functions to further meet user needs, while also developing and providing services that can send customers to offline stores.

VASILY CEO Hiroki Kanayama founded the company in 2009 after serving as the person in charge of launching "Yahoo! FASHION" and "X BRAND" at Yahoo. Regarding this capital increase, he commented, "We hope to further strengthen the flow of discovering new fashion on iQON and leading to purchases, and to bring the joy of fashion to many people."