FASHION e-commerce startup Pomelo has secured US$52 million in Series C funding from investors including Central Group, Provident Growth Fund and InterVest Star SEA Growth Fund.
Pomelo, which was launched in 2013, said it is the first Thai startup to raise a Series C funding round. Other investors include Andre Hoffman, Toivo Annus, Lombard Private Equity, Ambient Sound Investments OU and The Luxembourg Company Deverel. The fresh funds will be used to scale its business across South-east Asia as it intends to utilise Big Data and AI for pricing, design and e-commerce personalisation. It will also look to expand its supply chain automation platform, Henry.
Pomelo raised US$19 million a Series B round in November 2017, and has since opened a flagship store in Singapore's Orchard Road shopping district.
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