Zilingo to invest $100m to boost operations in US

21 October 2019 (Last Updated October 21st, 2019 16:44)

Singapore-based fashion technology platform Zilingo is set to invest $100m to boost its growth strategy in the US market.

Singapore-based fashion technology platform Zilingo is set to invest $100m to boost its growth strategy in the US market.

The investment will be used to digitalise the fashion supply chain in the country, as well as recruit sales and product teams.

Zilingo expanded its operations into the US by establishing offices in New York and Los Angeles.

According to the company, the investment will benefit factories and retailers in the US in terms of responsible manufacturing, line efficiency, labour management and sustainable sourcing.

Currently, there are about 60,000 retailers and 6,000 factories on Zilingo platform, across 17 countries.

The use of Zilingo’s smart, technology-led solutions will help resolve challenges associated with sourcing, software, data and financing.

Zilingo co-founder and CEO Ankiti Bose said: “The fashion industry is exploitative, wasteful and, frankly, completely broken.

“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.”

Zilingo was established by Ankiti Bose and Dhruv Kapoor in 2015. The company has plans to expand its presence in new markets, such as Australia, Europe and the Middle East.

Earlier this year, the South-East Asian e-commerce firm secured $226m in a Series D financing round.

The company has raised a total of $308m so far.