Pomelo boosts funding to $11m
Thai online fashion retailer Pomelo has raised a follow-on round, bringing its total Series A funding to US$11 million.
This round was again led by Singapore-based Jungle Ventures, with participation from existing investors and new contributors including 500 Tuk Tuks (a fund of major venture capitalist 500 Startups), Andre Hoffmann and Jonathan Price.
Pomelo says it will use the funds to continue expanding in Southeast Asia. While focussed on Indonesia, Singapore and Thailand, it has customers in more than 40 countries.
“We strive to provide the absolute best in terms of online fashion through our vertically integrated supply chain,” says Pomelo co-founder/CEO David Jou. “eCommerce is clearly approaching a tipping point in Southeast Asia, and we’re lucky to be one of the leaders in the fast-growing fashion vertical.”
Additionally, the label continues to strengthen its management depth, having added Meg Mistry as brand president and James Lamrock as regional VP (operations). Mistry was previously regional creative director for online fashion house Zalora, while Lamrock was chief logistics officer at Luxola, which was acquired by beauty products company Sephora. Investment firm TPG senior adviser Jonathan Price has also joined in an advisory capacity. He was previously MD of cosmetics and skincare group The Body Shop Asia and global COO of accessories company Targus.