Singapore-based fashion and lifestyle startup Zilingo has raised $8 million in a Series A round of funding led by existing investors Sequoia India, Hong Kong based Susquehanna International Group and Indonesia’s Venturra Capital, reports TechinAsia. Singapore-based Wavemaker Partners, Japan’s Digital Garage, and Beenext also participated in the round.
Zilingo works by getting independent offline sellers online to market their goods. The platform provides back-end support to these sellers, like an app to upload product listings, manage inventory, schedule pickups, customer care and marketing. Sellers also get an inbuilt analytics platform to track sales and see ratings. Zilingo doesn’t charge merchants anything to list, instead opting for a 10-20% commission on goods sold.
The company currently focuses on fashion and lifestyle, and operates in Thailand and Singapore, with plans to expand to Indonesia eventually. It is also looking to add new features like video that sellers can use for marketing. As of now, it claims to have 500,000 users, and carry out 30,000-40,000 transactions monthly. Zilingo has around 60 employees in four offices, including one in India.
Sequoia’s other investments:
– In July, supplier management platform provider SirionLabs raised $12.25 million in Series B funding led by existing investor Sequoia India among others.
– In June, fashion marketplace Voonik raised $20 million in a Series B round of funding led by existing investor Sequoia Capital and other investors.
– In the same month, Cuemath raised $4 million (~Rs 26. crore) in a series A round of funding led by Sequoia Capital
– In April, online pharmacy marketplace 1mg raised Series B funding worth Rs 100 crore from Maverick Capital Ventures and existing investors Sequoia Capital and Omidyar Network.
– In the same month, 90 Seconds, a cloud based video production platform, raised S$7.5 million in Series A funding led by Sequoia India.
– In March, Bangalore-based education tech startup Byju’s Learning raised $75 million from Sequoia Capital and Sofina.