Southeast Asia-based fashion marketplace Zilingo has closed an $18 million Series B funding round led by Sequoia Capital India and Burda Principal Investments.
Zilingo was founded less than two years ago by ex Sequoia analyst Ankiti Bose (CEO) and former Yahoo engineer Dhruv Kapoor (CTO). The basic vision is to help Southeast Asia’s thriving independent fashion sellers and boutiques stores expand their businesses online.
The startup had existed largely under the radar until it raised $8 million around one year ago. This newest round includes participation from existing backers Venturra Capital, SIG, Beenext and Wavemaker, as well as new investors — two angels — Tim Draper and Manik Arora, ex IDG Ventures India head, via his family office fund.
This new funding is being put to work growing Zilingo’s presence in Southeast Asia, and particularly Indonesia — the region’s largest economy. The startup said it has grown its revenue over 10-fold and added 5,000 new merchants during the past twelve months. It currently ships to eight countries, with seller hubs in Thailand, Indonesia, Hong Kong, Korea, Vietnam and Cambodia, with five company offices.
“A large part of this round is dedicated to growing in Indonesia,” CEO Bose told TechCrunch in an interview. “There’s no other comparable fashion brand, so we…