COCOLI, a young Berlin-based online platform for buying and selling preloved quality design furniture, has raised €3 million in a Seed round led byShip2B Ventures, Adevinta Ventures and IBB Ventures Invest.
In addition, the renowned business angel Justus Janauskas (Co-Founder, Vinted), alongside Fanny Moizant (Co-Founder, Vestiaire Collective) and Helen Zeitoun (CEO & Founder, IPSOS, GfK), are investing for the second time in COCOLI’s vision of a sustainable furniture market.
The financial injection enables the online platform for preloved design furniture to further increase the triple-digit growth of the founding year. In the coming months, the team will focus on optimizing unit economics, measuring and improving the climate footprint of its activities, automating back-end technologies, and advancing on its long-term goals in the fast-growing segment of the circular economy.
“Furniture companies and individuals who want to furnish their homes alike, are affected by high inflation and supply-chain crisis. COCOLI offers three opportunities: private sellers find an additional source of income with us; good quality design furniture becomes accessible to more people thanks to reduced prices AND we establish circular economy as a real option when buying furniture.”, says Gemma Comabella, CEO COCOLI.
Marc Sabas, Investment Director at Ship2B Ventures, says: “Gemma and the whole COCOLI team are purpose-driven entrepreneurs with a proven grasp on the business delivering consistent growth month over month. We are excited to partner in their mission to provide a second life to used quality furniture across Europe which would otherwise end up in landfills or incinerated.”
Founded in 2021, COCOLI stands for Community for Conscious Living and aims to give vintage furniture and designer b-ware a second life. COCOLI trades in quality-checked second-hand furniture from private sellers, as well as showroom pieces, certified vintage products, b-goods, and end-of-stock collections. As early as 2022, COCOLI successfully partnered with internationally popular interior brands, including Sofacompany, MYCS and Blomus. In 2023, names such as Kave Home and the world’s largest online-only furniture seller Wayfair join the list. COCOLI acts as a sustainability partner for furniture brands, reducing the number of pieces of furniture that are disposed of. Customers can buy furniture treasures that have been checked for their condition for up to 70% less than their original price. Thanks to its innovative acquisition strategy, COCOLI has expanded its range of products from an initial 200 to more than 350,000 – and counting.
Stefan Grabmann, Principal at Adevinta Ventures, says: “COCOLI has created an innovative digital platform that not only revisits the way buyers shop for high-quality second-hand furniture, but also supports sellers with a unique full-service logistics solution. The strong customer traction that COCOLI has witnessed over the last 12 months has made us eager to be part of their exciting journey as they continue to build a European leader for pre-loved furniture.”
Anvita Mudkani, Senior Investment Manager at IBB Ventures, says: “Within a short period of time, the COCOLI team has successfully established promising partnerships with established brands and retailers. Additionally, the company has demonstrated strong growth rates while maintaining healthy unit economics. We are convinced that COCOLI will play a significant role in the sustainable furniture market, and we are delighted to be part of this important mission.”
Read the orginal article: https://www.eu-startups.com/2023/05/berlin-based-cocoli-raises-e3-million-seed-round-to-further-revamp-its-vintage-designer-furniture-online-platform/
