Fab.com has raised $150m in a first tranche of its series D round of financing, with investments from two new strategic participants, China-based internet company Tencent and Itochu Technology Ventures, the corporate venture arm of Japan-based general trading company Itochu Coporation. Tencent is also adding a board member to the company.
Fab’s existing investors, Docomo Capital, the corporate venturing unit of Japan-based mobile phone operator NTT Docomo, and venture capital firms Atomico, Andreessen Horowitz, Menlo Ventures, RTP Ventures, Pinnacle Ventures, and Lars Hinrichs, also participated in this latest round of financing.
Fab has now raised more than $310 million since its inception.
Jason Goldberg, founder and chief executive officer of Fab.com, said: “This new round of financing helps us execute on our long-term vision of being the world’s design store.
“Fab is excited to work with Tencent to bring Fab to millions more people around the world. We specifically sought out a strategic partner like Tencent because we are intent on bringing Fab to many new markets. We believe that design is a universal language and we are confident that we can bring Fab’s unique products to millions and millions of people worldwide.”