Ukma, the cultech startup known for its innovation in the design, manufacturing, and marketing of sculptures, has successfully closed a seed investment round led by CANVAS Partners.
This financial move allows the company to expand its presence in Mexico and internationally, marking an exciting chapter in its mission to influence the world of art and design and promote positive change in society and the environment.
Alonso del Valle, Founder and Commercial Director of UKMA, highlighted the company’s commitment to creating “pieces that awaken emotions and inspire people while we actively seek a socially conscious and sustainable world.”
Diego Balmaceda, the co-founder of Ukma, offered more details in an exclusive interview for Contxto:
“We are an e-commerce specialized in the sale of sculptures, the second most sold form of art worldwide and a market worth billions of dollars,” Balmaceda pointed out. “Our works are exclusive and original, backed by the use of artificial intelligence in their design. We work with various materials and finishes, employing specialized machinery to create unique pieces. Our latest advancement focuses on creating sculptures using 3D printing technology, utilizing recycled polymers as a material source.”
According to the Art Market 2022 report, presented by Art Basel and UBS and developed by economist Clare McAndrew, founder of consulting firm Art Economics, the art market is showing signs of financial recovery despite fluctuations in sales volume, explains El Economista.
The study revealed that in 2021, 36.7 million units of art and antiques were sold, an improvement of 5 million pieces compared to the “forgettable year” in 2020. However, it still represents 4 million fewer pieces than in 2019. However, this data also suggests that even though the volume was lower compared to 2019, the value of the pieces sold increased, boosting the market’s recovery in monetary terms. Moreover, online sales experienced significant growth during the two years of the pandemic, doubling from USD $6,000 million in 2019 to USD $13,300 million in 2020, accounting for 20% of the total weight of the art market.
Balmaceda added:
“Currently, we have a presence in Mexico and the United States. We have already sent hundreds of orders to more than 75 cities in North America. With this investment round, we aim further to strengthen our product offerings, materials, and finishes. We will continue investing in developing recycled materials and biomaterials to offer more sustainable solutions that meet our customers’ needs. Additionally, we plan to expand our brand’s presence in the United States and Mexico.”
With this capital injection, Ukma is positioned to take Mexican design to the global stage and demonstrate that sustainability and aesthetics coexist and thrive in harmony.
This statement comes after UKMA’s successful participation in international fairs specializing in design and architecture, where the company has demonstrated its commitment to positioning Mexican design at a global level.
CANVAS Partners’ investment marks a turning point for UKMA. It sets a higher standard for the world of art and design, inviting others to join them in their quest for a more sustainable and aesthetically enriching future.
