Fabelio, an online furniture marketplace in Indonesia, has received US$2 million Series A funding led by Venturra Capital. Existing investors 500 Startups and IMJ Investment Partners also took part in the round.
Fabelio aims to sell high-quality furniture to Indonesians both from suppliers and in-house designers. The Company is planning to offer a larger assortment of products, as well as explore new regional markets such as Malaysia and Singapore. The funding will help to develop new technology features, strengthen logistics infrastructure.
Krishnan Menon, CEO and co-founder has said “We will be spending resources to explore supply scene in Malaysia this year, as well as other factors like logistics. We see ourselves entering Malaysia in late 2016 or early 2017, and possibly serve Singapore”. He also said that we have served thousands of customers and partnered with over 40 manufacturers to fulfil our dream of making every Indonesian home beautiful.
The Southeast Asian market is wide open and companies are intending to go after it aggressively for their growth.