Istanbul based furniture startup, has secured $130 million investment from the local private equity firm Actera Group. The investment also includes secondary sale by early investors including Berlin-based Earlybird Venture Capital and New York-based FJ Labs. Both the investors have apparently fully exited the startup. Earlybird was also an early investor in Peak Game, the Turkish mobile gaming startup Peak that was acquired by Zynga for $1.8 billion, last month.
Founded in 2013 by Kemal Erol, Vivense’s online platform sells furniture all over Turkey. The platform is complemented by Vivense’s 53 experience centers (small showrooms) across the country that employ interior designers to help customers make their purchase decisions. The startup sources furniture from about 500 manufacturers in Turkey and claims to have served over 1 million households in almost seven years of its existence.
Vivense manages the entire sales cycle with fulfillment centers spread over a total area of 50,000 squarer-meters its own last-mile delivery teams (with branded vehicles) who also assemble the furniture for customers. The platform sells tens of thousands of products in across different categories of home furniture.
Kemal Erol, Vivense’s founder & CEO, who previously led Rocket Internet’s furniture venture Westwing in Turkey, commenting on the occasion, said, “We’re very excited and proud to have received this investment from Actera. The fact that we share our vision of turning Vivense into a globally inspiring, innovative, and professional home and lifestyle brand, with Actera, makes the investment very meaningful.”
He also explained that the investment will be used to further strengthen their logistics and delivery infrastructure and development of technology, “With new investments in our ecommerce platform, we want to improve the experience we offer to our customers. We continue to increase the number of our showrooms and sales points. We want to bring everyone to the Vivense experience more easily physically and digitally.”
The CEO of Vivense in a statement explained that they want to take their Turkish product range global by using the hybrid of ecommerce platform and showrooms which has been a crucial part of their success in Turkey