German online lamp shop Lampenwelt.de has received a major investment of €120 million, coming from the venture capital firm 3i. The company says 3i will also provide a short-term loan of €54 million. In 2016, the lamp shop generated sales of €61 million.
Lampenwelt.de has a selection of more than 50,000 lamps. It is active in 12 countries, and claims to be "the leading online retailer of lighting products in Europe".
"We are very pleased to enter the next phase of our growth history together with 3i," said Lampenwelt.de co-founder Thomas Rebemann, as reported by Deutsche Startups. "3i has extensive experience in the consumer goods industry and an impressive network that will help us expand our presence in Europe."
Peter Wirtz, CEO of 3i Deutschland, reported that the VC firm planned to support the company in expanding internationally.
Read more: Deutsche Startups (German)