Fashion startup Zilingo raises $226 million from Singapore’s Temasek, others: Reuters
Summary
Southeast Asian fashion startup Zilingo said it has raised $226 million in its latest funding round from existing backers such as venture capital firm Sequoia Capital, with Singapore’s Temasek Holdings joining as a new investor. The Singapore-headquartered company plans to use the funds to invest in infrastructure and technology to further integrate and digitize the fashion and beauty supply chain, it said. Zilingo, whose main market for the consumer business is Indonesia, is expanding in countries such as Australia in 2019. “We are pretty close to profitability and have a clear path to it,” Ankiti Bose, the company’s co-founder and CEO, told Reuters. Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ .