Berlin-based mycs, an online retailer for customisable furniture, has announced a Series A round of €10 million. The funding comes from Global Founders Capital, TriPos, and angel investors Florian Heinemann and Uwe Horstmann.
This new investment will fund mycs’ next range of customisable furniture. The company added that it passed the €10 million run-rate-mark in Q4 2016, which is evidence, it said, that its market is no longer niche. It also operates six physical showrooms in Germany, France, and Switzerland.
“At the moment, the company’s monthly growth rates are to be found in the double-digit range,” said managing director Kachun To. “On one hand, in the last financial year, we concentrated on the extension of the current assortment as well as the launch of wardrobes.
“On the other hand, we made adjustments to the company’s structure, further expanded the team, pushed marketing measures ahead and optimized our business operations in the markets.”