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NEW YORK, Oct. 18, 2019 /PRNewswire/ -- Zilingo, a global fashion-technology platform, today announced an investment of $100 million across the United States to digitally transform the fashion supply chain. This summer, Zilingo launched operations in the United States with offices in New York and Los Angeles. The investment includes hiring sales and product teams.
"The fashion industry is exploitative, wasteful and, frankly, completely broken," said Ankiti Bose, Co-founder and CEO, Zilingo. "We're a technology company at heart, and firmly believe in the power of technology to improve business and the world. We're bringing technology to a supply chain that hasn't changed since the industrial revolution. Zilingo levels the playing field in fashion so that businesses - no matter how big or small - can have access to a fair, transparent, affordable, fast supply chain."
The investment has substantial benefits for U.S. factories and retailers, as well as sustainable fashion advocates everywhere. For retailers enabled by Zilingo, responsible manufacturing is fast, feasible and accessible. And, factories can compete in a global marketplace with improved line efficiency, labor management and sustainable sourcing.
Zilingo uses smart, technology-led solutions to re-imagine the fashion supply chain:
The company was founded in 2015 by Ankiti Bose and Dhruv Kapoor, as an e-commerce platform to allow merchants to sell to end consumers in Southeast Asia. It rapidly evolved to look further upstream at problems relating to sourcing, software, data and financing. Headquartered in Singapore, today Zilingo enables 60,000 retailers and 6,000 factories on its platform, across 17 countries.
Zilingo's $100 million investment into the U.S. is part of the company's accelerated growth strategy in new markets, including Australia, Europe and the Middle East.
In April 2019, Zilingo raised $226 million in Series D funding, bringing the total amount raised by the company to $308 million. Key investors from the latest round included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina, Singapore investment fund EDBI as well as existing investors.
About Zilingo
Zilingo is a technology platform that powers the entire fashion supply chain. It was founded in 2015 by Ankiti Bose and Dhruv Kapoor with a vision to use technology to put responsible and efficient business within everyone's reach. The fashion industry is dominated by a select few - favoring only those with social, human and financial capital. At Zilingo, we believe the future of fashion belongs to everyone. By using smart, technology-led solutions to bridge the gap between creators and producers, we've re-imagined the fashion supply chain to make it fair, connected and transparent for all. Details can be found at business.zilingo.com.
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