Media group Hubert Burda’s Burda Principal Investments subsidiary has participated in a $226m series D round for Singapore-based online fashion marketplace Zilingo, Bloomberg reported today.
The round included Singaporean state-owned investment firm Temasek and state-owned venture capital fund EDBI, as well as venture capital firm Sequoia Capital and investment firm Sofina. It valued the company at $970m, people familiar with the deal told Bloomberg.
Founded in 2015, Zilingo has developed a fashion e-commerce marketplace that enables businesses to sell items such as cosmetics, clothing, apparel and jewellery.
The platform also provides software to help with supply chain services such as manufacturing, cataloguing, marketing, inventory management, cross-border shipping and logistics.
Zilingo has now raised a total of $307m in funding and plans to use the additional capital to fuel expansion into other countries in Asia, as well as Australia. Burda Principal Investments had co-led its $54m series C round in April 2018 with Sofina and Sequoia Capital India.
The series C featurd internet company Digital Garage, as well as quantitative trading and technology firm Susquehanna International Group (SIG), Beenext, Wavemaker Partners, Amadeus Capital, Venturra Capital and private investors including Manik Arora and Tim Draper.
Burda Principal Investments and Sequoia had previously co-led a $17 series B round for Zilingo in 2017 that included SIG, Venturra Capital, Beenext, Wavemaker, Draper and Arora.
SIG and Venturra had already contributed to the company’s $8m series A round in 2016, investing alongside Sequoia, which had taken part in its $2m seed round the year before.