L'ArcoBaleno announced on Tuesday that it completed the seed capital round, led by Holtzbrinck Ventures, for a "seven-figure" amount. Other investors that participated in the said financing round include Otto Capital BV, DN Capital, as well as Novel TMT Ventures. The company, however, failed to disclose the exact figures.
L'ArcoBaleno sells direct-to-consumer highly collectible furniture, handicrafts, accessories, lighting and decorative arts to high-end clients. The company already registered sales of items by as much as US $40,000 since it started accepting orders in June, .
The assistance from the new investors was not limited to just money as they also offered advise and recommendations on how to futher improve the e-commerce site of L'ArcoBaleno.
As company CEO Oliver Weyergraf said: "We are thrilled to be supported by such a savvy and discerning group of premier investors. This provides us with a great foundation to grow our concept, boost our operations and help ensure that L´ArcoBaleno can build a sustainable business."
Ambra Medda, co-founder of L'ArcoBaleno, said they are quite pleased with the outcome of the latest funding round because they got exactly what they were aiming for.
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