Zilingo received fresh investment funding
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Online marketplace Zilingo has raised US$226 million in its recent Series D funding.
The fresh capital round brings the total amount raised by the company to $308 million. Having secured its latest investments, the company is now looking to China as well as other key Asian markets as part of its growth strategy to expand its B2B business.
Key investors from this latest round included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina, Singapore investment fund EDBI as well as existing investors.
“Sequoia’s investment in Zilingo dates back to when the company wasn’t even yet incorporated and the name wasn’t finalised,” said Sequoia Capital (India) Singapore’s MD Shailendra Singh.
“Ankiti and team have rapidly transformed their original ideas about Zilingo into a platform company that serves fashion consumers, merchants, retailers, brands and manufacturers, collectively representing a multi-hundred-billion-dollar market size. We are amazed by the team’s ability to envision and execute against such an ambitious roadmap and are excited to continue to support them on their journey.”
The company says it plans to invest the capital in long-term value building across the supply chain, building new and deeper relationships with manufacturing partners in Vietnam, Cambodia, Sri Lanka and China, and expanding into new markets such as the Philippines, Indonesia, Australia and the US this year.”
Questions & Answers
Q.How much total funding has Zilingo secured to date?
How much total funding has Zilingo secured to date?
Zilingo has now raised a total of $308 million. The most recent Series D funding round contributed US$226 million to this overall amount, helping the company secure its growth plans.
Q.Which specific new markets is Zilingo planning to enter this year?
Which specific new markets is Zilingo planning to enter this year?
This year, Zilingo plans to expand into new markets including the Philippines, Indonesia, Australia, and the US. They are also focusing on China and other key Asian markets for their B2B business growth.
Q.Who were the new investors in Zilingo's recent funding round?
Who were the new investors in Zilingo's recent funding round?
Key new investors in this latest round included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina, and Singapore investment fund EDBI. Existing investors also participated in the Series D funding.
Q.What is Zilingo's primary strategy for using its newly raised capital?
What is Zilingo's primary strategy for using its newly raised capital?
Zilingo intends to invest the capital in long-term value building across the supply chain. This includes developing deeper relationships with manufacturing partners in Vietnam, Cambodia, Sri Lanka, and China, and expanding into new markets.
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