Indonesian online furniture shop Fabelio bags $2m Series A led by Venturra Capital

Jakarta-based online furniture shop Fabelio, which went live in June last year, said it has raised $2 million in Series A funding led by Venturra Capital.

The existing investors in this market place for furniture – 500 Startups and IMJ Investment Partners – who had given Febelio $500,000 in seed funding last year, also participated in the Series A round.

CEO and co-founder Krishnan Menon said, in a statement, the company’s journey has just begun, and added that the startup had already served thousands of customers, while partnering with over 40 manufacturers.

“We are proud to have created more than 200 jobs between our suppliers and us in less than six months. Now, our goal is to establish ourselves as the go-to home furnishing destination,” he said.

The e-commerce firm said, it will use the funding to strengthen its logistics infrastructure, and offer a larger assortment of 15,000 products across all price points, and maybe even explore expansion into new regional markets.

Proceeds from this round will be used to ‘focus on growing the team and improving customer experience by opening a brand new showroom in Panglima Polim, South Jakarta in March 2016’, it added in a statement.

The investment will also see Stefan Jung, managing partner of Venturra Capital, join the company’s board.

“The founding team brings together all the puzzle pieces to succeed in a very large home and furniture market and we are excited to support Fabelio going forward in their growth,” Jung said in a statement.

Fabelio is also aiming to be a market place, and recently had launched a platform for furniture as well as home decor sellers across Indonesia, and claims to have significant interest from a wide array of sellers to be exclusively featured on it.

Justifying the move to participate in the followup round, Khailee Ng, Partner at US-based venture capital firm and incubator 500 Startups said Fabelio had shown ‘incredible growth coupled with a clear focus on sustainability’.

The seed round last year had also seen the participation of some angels, including Sandeep Tandon, Co-founder of FreeCharge, and Roshni Mahtani, Founder of TheAsianParent.

In addition to Menon, the founding team includes Christian Sutardi: formerly an Associate at Monk’s Hill Ventures, and co-founder of Lolabox, Marshall Utoyo, who had co-founded co-working space Conclave, and Srinivas Sista who was formerly with Lazada.

The company, which claims to be the largest online store for furniture in Indonesia, uses its own design studio to develop self-branded products, while partnering with other product and furniture designers.

Also Read: Indonesia e-commerce Dealbook : Government mulls five-year roadmap, Mataharimall launches online platform

US e-commerce giant eBay plans to open office in Indonesia

Indonesia hopes its e-commerce ecosystem churns out a unicorn or two by next year

Ardent Capital enters Indonesia’s e-commerce biz with MOXY

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.