Monoqi, a Germany-based e-commerce platform focused on contemporary design that is backed by publisher Condé Nast, has attracted €15m ($16.8m) in funding from family office Decisive Wealth, according to Handelsblatt.
Founded in 2011, Monoqi curates up to 100 new products each day sourced from designers around the world, selling the limited edition items to registered users. It has collaborated with more 10,000 designers to date in areas such as kitchenware, lighting, fashion and books.
The company will use €5m of the Decisive Wealth investment to support the creation of a joint venture with the family office that will focus on Dubai and Riyadh.
Monoqi received €3.25m in debt financing from Davidson Technology Growth Debt in April 2016. Condé Nast, a subsidiary of publishing conglomerate Advance Publications, had acquired a 26% stake in 2013 for an undisclosed amount.
Hasso Plattner Ventures invested an undisclosed sum in Monoqi in 2012. Its other shareholders include RI Digital Ventures and angel investors Christophe Maire, Dario Suter and Jochen Gutbrod.