Bespoke jewelry design house MADLY has raised new funding from East Ventures, a pioneering sector-agnostic venture capital firm that has supported over 300 tech companies across Southeast Asia such as Tech in Asia and ShopBack.
With this funding, MADLY will be able to accelerate its efforts in tapping into the international market’s robust demand and achieve global expansion.
“I’m delighted that we are joining forces with East Ventures, a firm that fully aligns with our belief in investing in people. With East Venture’s support, we’re set to expand our reach globally and build an internationally recognised bespoke jewelry brand,” says Maddy Barber, founder of MADLY.
This funding also symbolises East Venture’s trust and confidence in MADLY’S capability to expand successfully into more international markets.
“We are truly captivated by MADLY’s ability to redefine the bespoke jewelry industry, especially on its innovative approach to design, manufacturing and customer experience, which sets them apart from traditional maisons,” said Willson Cuaca, co-founder and managing partner at East Ventures.
“We are excited to be part of their journey and believe that investing in MADLY is an investment in the future of bespoke jewelry,” Cuaca added.
MADLY was established in Singapore in 2014, and prides itself on providing its customers with exceptional gemstones and designs.
MADLY joins a number of companies who have successfully acquired funding recently as part of their initiatives to facilitate the global expansion of their brands. Just last November, social commerce company and omnichannel platform Summer International has raised US$5 million in seed funding from key investors including Gushcloud International, GDP Ventures, Teja Ventures, and Singaporean angel investors Koh Boon Hwee and Shirley Crystal Tan.
Its spokesperson told MARKETING-INTERACTIVE that the new funding will go towards building out a larger social and live commerce network via the expansion of newer markets. It will also go towards the creation of more social brands and the marketing of these new brands into more markets.
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