Ecommerce startup GAIA raises $ 50 million


This text was translated from our Spanish version.

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The e-commerce platform for the sale of furnishings and design equipment in Mexico GAIA introduced this Monday that it reached 50 million {dollars} in a sequence C financing spherical led by SoftBank Latin America Fund.

Cortesía GAIA

Raffaello Starace, Hassan Yassine y Philippe Cahuzac, cofundadores de GAIA.

By means of an announcement, the Mexican startup indicated that different buyers presently taking part within the firm, equivalent to Rise Capital, FJ Labs, Attempt Ventures, Amador Ventures, Alpha4Ventures, Inversiones Consolidadas, Humboldt Administration Inter-American Improvement Financial institution (IADB) and the French French Companions. Thus far, GAIA has raised roughly $ 80 million.

“In a short while, we’ve got constructed the pioneering e-commerce chief within the house class in Mexico and have positioned the corporate for continued progress in a post-COVID world,” stated Philippe Cahuzac, CEO and co-founder of GAIA. “We’re very excited to companion with SoftBank and leverage their help and partnership as we develop GAIA’s presence in Mexico and past.”

GAIA was created in 2014 by Raffaello Starace, Hassan Yassine and Philippe Cahuzac with an progressive direct-to-consumer gross sales mannequin within the furnishings market in Mexico. GAIA was initially supposed solely for digital commerce, nonetheless it has elevated its provide with 5 bodily shops in Mexico Metropolis. The shops act not solely as a validation instrument to enhance the net expertise, but additionally as a conversion instrument.

To attain high quality designer furnishings that’s extra accessible for the native market, the corporate designs and sources its merchandise primarily from Mexican producers, thus eliminating intermediaries. The corporate additionally has its personal fleet of supply vehicles to make sure a personalised and satisfying supply expertise.

Picture: Courtesy GAIA

GAIA will use the funds to launch a market the place it is going to be in a position to present its greater than 300 thousand merchandise, along with enhancing its present expertise and operational infrastructure. It additionally plans to make use of the capital to develop its logistics infrastructure in Mexico Metropolis and the 40 largest cities within the nation. To help these efforts, GAIA will open a number of regional distribution facilities, additional develop its e-commerce ecosystem, and develop its product portfolio and repair providing.

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