It’s time for yet another massive investment in ventures from Berlin-based company builder Rocket Internet. Today a $112m funding round for two of its eCommerce retailers – Southeast Asian Zalora and Australian The Iconic – was revealed. Rocket Internet did not specify how the funds were split.
Access Industries led the financing round, with new investors New York-based hedge fund Scopia Capital Management and other institutional investors also contributing, according to TechCrunch.
It’s the second funding round this year for Zalora after it picked up $100m in May from Summit Partners, Investment AB Kinnevik, Verlinvest and Tengelmann Group. JP Morgan also invested a significant double-digit sum in the online retailer in September last year. As for The Iconic, in July this year it announced a AUD$28m funding round led by Verlinvest.
Zalora operates in Brunei, Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. The company sells clothing, shoes and accessories – claiming to have served one million customers since launching last year, though it is not yet profitable.
It’s been a year of big funding rounds for Rocket Internet portfolio companies – alongside Zalora’s two rounds, fellow southeast Asian online retailer Lazada also secured $100m in funding, while Russian eCommerce store Lamoda received $130m. These big figures come as no surprise, the Samwer brothers – who founded Rocket Internet in 2007 – announced earlier this year that they’d secured over a billion dollars in funding for their portfolio companies in just 26 weeks.