Tees, an Indonesian online marketplace retailing artwork-based merchandise, has secured an undisclosed amount of seed funding from 500 Startups, Singapore-based 8Capita and a group of angel investors.
These include Chintaka Ranatunga, a venture partner in Sparkbox Ventures and Badroni Yuzirman.
The capital from this seed round will fund expansion in Southeast Asia, talent acquisition to expand the team, the expansion of the current product portfolio and the development of mobile applications for Android and iOS.
Launched in 2012 as a marketplace enabling customers and storeowners to customize t-shirts, Tees later expanded to offering customization for 20 other categories, such as posters and phone cases.
Services are free, with Tees claiming to host at least 100,000 crowdsourced designs for sale on its platform.
Gary Lilardi, co-founder of Tees, stated:
“We’re happy to be a part of 8Capita and 500 Startups big family, their world-class mentor network and connections are crucial in helping us achieve our growth targets post investment. The combination of local and regional investors provides us with the necessary funding and guidance to expand our services to neighbouring Southeast Asian markets.”
Seed funding hard to come by in Vietnam: George Vozikis.
(Credits to Shiwen Yap from DealStreetAsia)
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