Online-only and direct-to-consumer furniture maker Tylko has raised €22 million.
The round was led by Israeli Pitango Ventures and Finnish Evli Growth Partners. Previous investors TDJ Pitango and Experior Venture Fund followed on.
Notably, Brian Walker, former CEO of Herman Miller (you know, those ultra-cool office chairs that you always wanted, but could never really justify paying for) is a new investor, and as part of the round, will join the company’s supervisory board.
This round of funding is expected to be earmarked for further products in the portfolio, new market expansion, and the development of new materials and supply chain optimisation with sustainability in mind. Additionally, Tylko is aiming to double its 140 headcount.
Founded in 2015, Tylko’s unique business model is built on the simple yet effective principle: invest in innovation and technology and deliver a quality product. But at the same time, they’re seeking to influence an entire industry. Now, I wouldn’t want to name any names here, but, Tylko is out to make fast-furniture a thing of the past.
Based on the principles of parametric design, users design their own furniture from home. From there, Tylko’s proprietary software then automates the manufacturing process for production partners, ultimately, a highly scalable process.
To date, Tylko has delivered to almost 60,000 customers, and demonstrated a 132% increase in sales in 2020 year over year.
“Tylko's strong impact-driven vision and made-to-order business model drives the market's transition towards more sustainable solutions. By optimizing material use, production efficiency and offering customers unique, long-lasting design we believe Tylko is positioned at the forefront of such a transition," comments Evli Growth Partners’ Mikko Kuitunen
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