South-East Asian e-commerce firm Zilingo has secured $226m in a Series D financing round, taking the total funds raised by the company to $308m.
Venture capital firms Sequoia Capital, Temasek Holdings, Sequoia, and Burda Principal Investments, as well as Singaporean investment firm EDBI and existing investors, participated in the round.
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By GlobalDataWith this deal, Temasek joined the company’s investor group as a new investor.
The funding is an addition to a $54m investment raised by the company last year.
Zilingo co-founder and CEO Ankiti Bose said: “The role of technology should be to create inclusive growth. In the fashion industry, core supply-chain inefficiencies hinder small and medium merchants from unlocking their full potential as compared to the big brands.
“We are building a level playing field by providing the best-in-class services and products to each merchant – irrespective of their size. We think this approach can unlock immense growth for South East Asian suppliers.
“We are tremendously grateful to have the continued support of our existing and new investors with whom we share this ambitious vision to build a cutting edge fashion company.”
Last April, the e-commerce firm expanded its business into the US with the launch of a new B2B platform, Zilingo Asia Mall (ZAM).
Zilingo has also invested in strengthening B2B and supply chain capabilities.
The company has plans to expand its presence in markets such as the Philippines, Indonesia and Australia this year.
