3 Million Dollar for Swiss ski-manufacturer

Faction was forged in 2006 by a team of passionate skiers, each bringing skills in design, branding, engineering, marketing, logistics and sales.  Now the company has raised a $3 million in financing led by Octopus Investments along with prominent London-based angel investors in addition to the round announced last October, adding up to, over $6 million in the past year. Angels included Christopher Spray, formerly of Atlas Venture, and London's Harvard Business School Alumni Angels. Terms were not disclosed.

Faction co-founderAlex Hoye has confirmed that on the back of strong global sales and margin growth, 13/14 sales are expected to improve by another 100% with sales led by France, North America, Japan and Scandinavia and a successful launch of Faction's apparel and Superlight backcountry line.

Simon Andrews, a member of the Ventures team at Octopus, said: "We are excited to back the entrepreneurs behind Faction, who are passionate about creating products based on exceptional design and cutting-edge technology. In addition to this, the team's pioneering approach places it at the heart of the evolution in online distribution in sports retail. The launch of the pop up shop is highly demonstrative of Faction's innovative retail strategy, and we look forward about partnering with the team as it realises its vision within this exciting market segment."