Pomelo, a Thai fashion e-commerce startup, raised US$52m in Series C funding.
– Central Group,
– Provident Growth Fund,
– InterVest Star SEA Growth Fund,
– Toivo Annus,
– Andre Hoffman,
– Lombard Private Equity,
– Ambient Sound Investments OU and
– The Luxembourg Company Deverel.
The company, which has now raised over a total of US$83m, intends to use the funds to scale its business across South-East Asia with a target to open 150 branches within 2023 as well as to continue to expand its supply chain automation platform.
Launched in 2013 and led by CEO David Jou, Pomelo is an online and physical fashion brand for women infusing local, global, and Soko (South Korean Fashion) trends in apparel, shoes, bags, and accessories and leveraging artificial intelligence to improve several aspects of the business including pricing, design and e-commerce personalization at pomelofashion.com.
The company currently operates 9 locations in Bangkok, Phuket and Singapore, with plans to open new stores in the above cities, in Jakarta, Kuala Lumpur, Hong Kong, Manila and Ho Chi Minh City.