Fashion-based e-commerce platform Zilingo, which caters to Southeast Asian and Australian markets, has raised $17 million in a series-B round led by Sequoia Capital India and Burda Principal Investments.
Besides, other investors such as Tim Draper of Draper Fisher Jurvetson also joined the round along with the family office of IDG Ventures India founder Manik Arora. Existing investors Venturra Capital, SIG, Beenext and Wavemaker also participated in the round.
“Our focus with this new round is to fortify our fashion supply from across Asia and meaningfully expand in Indonesia,“ said Ankiti Bose.
She, however, added that Zilingo currently is not planning to open itself to the Indian market.
With the latest funding, the total capital raised by Zilingo comes to $27 million.
Zilingo had raised $8 million from Sequoia India, Venturra Capital and Susquehanna International Group last year. It had raised $2 million in 2015 from Sequoia, Beenext and FreeCharge founders Kunal Shah and Sandeep Tandon.
Founded in 2014 by Ankiti Bose and Dhruv Kapoor, the startup has a 95-member team with the tech team headquartered in Bengaluru.
The platform currently ships to 8 countries and has seller hubs in Thailand, Indonesia, Hong Kong, Korea, Vietnam and Cambodia.
The platform boasts of having 1 million active users, mainly on the mobile web. Besides, it has around 5,000 merchants on the platform who sell clothes, jewellery and beauty products. The company claims to have seen a 10-time increase in revenue in the past 12 months.
The Southeast Asian market has seen increasing investments in the e-commerce space with Zilingo competing with the likes of Lazada.
Alibaba is also eyeing the South East Asian market and set to invest $1.1 billion in Indonesia’s largest online marketplace Tokopedia. Last year, Alibaba paid $1 billion for a majority stake in regional online marketplace Lazada.
