Vietnam-based online retailer Tiki has received ₫377bn ($16.7m) in funding from internet company VNG Corporation in return for a 38% stake, Tech in Asia wrote on Tuesday, citing local media reports.
The deal valued Tiki at approximately $45m and was reportedly completed on May 1.
Founded in 2010, Tiki sells a range of consumer goods such as books, toys, home appliances and furniture on its site.
Tiki previously secured series B funding from conglomerate Sumitomo in 2013. The size of the investment was reported as $1m to $2m at the time and gave Sumitomo a 30% share in the company.
Mobile game developer CyberAgent provided an undisclosed amount of funding for Tiki in 2012 through Asia Internet Fund I, which was managed by its corporate venturing division, CyberAgent Ventures.