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.
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