startup funding

Fashion E-Commerce Startup Zilingo Raises $226 Mn from Temasek, others

0

Fashion and beauty e-commerce marketplace Zilingo has raised massive $226 million in its latest Series D round of funding from Singapore’s Temasek Holdings, EDBI – the corporate investment arm of Singapore’s Economic Development Board.

Existing investors such as venture capital firm Sequoia Capital India, Burda Principal Investments, a division of Germany’s Hubert Burda Media, and Belgian investment firm Sofina also contributed to the round.

Headquartered in Singapore, Zilingo plans to use the funds to invest in infrastructure and technology to further integrate and digitise the fashion and beauty supply chain.

Since its launch in 2015, Zilingo has raised a total of $308 million from investors. Prior to this, the startup raised $54 million in last year.

Zilingo was founded by young entrepreneurs Ankiti Bose and Dhruv Kapoor. While Ankiti was Investment Analyst at Sequoia Capital, Dhruv is a former software engineer at Yahoo Inc.

Started as a fashion marketplace, Zilingo allows smaller merchants from Southeast Asia without an online presence to list their items for sale direct to consumers. In addition, the startup is now also growing its business-to-business (B2B) tools and platforms, which include providing value-added services to its merchants as well as a marketplace to help them source efficiently from manufacturers.

Zilingo’s main market for the consumer business is Indonesia and now plans to expand in countries such as Australia in 2019.

Like this content? Sign up for our daily newsletter to get latest updates.

Comments

comments

Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

Ratan Tata-backed Axio Biosolution Launches MaxioCel, Cutting-Edge Innovation in Advance Wound Care

Previous article

Fintech Startup HomeCapital Raises Funds from Venture Gurukool, Astarc Ventures and Singapore Angel Network

Next article

Comments

Comments

comments

Comments are closed.