Zilingo completes series-b funding round, led by Sequoia
Zilingo raised 113 crore rupees (approximately 17 million dollars) in its latest round of funding, led by Sequoia, Capital India, and Burda Principal Investments.
Zilingo is a multi-brand e-commerce store that focuses on fashion and beauty. The start-up was founded by two Indian entrepreneurs, Ankiti Bose and Dhruv Kapoor, with a tech team based in Bengaluru. However, the company itself is based in Singapore and currently ships to eight countries including Korea, Hong Kong, Thailand, and Vietnam. The brand does not currently retail in India itself.
After raising 53 crore rupees (around eight million dollars) last year from a group of investors including Sequoia and a modest amount the year before that, Zilingo brought the total of investments made in the brand so far to 180 crore rupees (approximately 27 million dollars) after its latest round of funding. Other investors in the latest round include Wavemaker, Beenext, Venturra Capital, and SIG.
Speaking about what the company plans to do with its new capital, Ankiti Bose, one of Zilingo’s co-founders said: “Our focus with this new round is to fortify our fashion supply from across Asia and meaningfully expand in Indonesia.”
After taking part in Zilingo’s series-b funding round, Albert Shyy, Principal at Burda, said: “We have been extremely impressed with Zilingo's growth and focus on strong unit economics. We believe there is a massive opportunity to build the leading fashion marketplace in the region and are very excited to join their journey.”
Zilingo was set up in 2014 and currently has a staff base of 95, which it is in the process of expanding as the company continues to grow. The e-commerce site hosts a wide array of fashion brands ranging from high end labels such as Prada and Tissot to high-street labels such as Adidas and Converse.
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