China-based e-commerce fashion marketplace Yoren has raised $11m in a series B round co-led by retail outlet operator Lawson and electronics manufacturer T-Gaia Corporation, e27 has reported.
Founded in 2011, Yoren runs a service that enables customers from overseas markets to buy Japanese fashion and apparel through an online platform, mobile app and brick and mortar stores.
The company plans to use the investment to fund expansion plans in Southeast Asia, beginning with Malaysia and Thailand. Yoren will also use the proceeds to develop its artificial intelligence technology and big data integration as part of a long-term plan to create tech-enabled stores.
A spokesperson for Yoren said in a statement seen by the publication: “We foresee the optimal use of digital environments as a service and big data gathered from increasingly connected networks as critical up-and-coming managerial problems.”