Fabelio.com, an Indonesian start-ups that produce home furnishings got fresh funds from local investors worth US$6.5 million. Based on the company’s official release on Tuesday (May 22), Fabelio.com plans to expand outside of Java in the near future.
Previously in 2016, the Jakarta-based online furniture shop has received US$2 million Series A funding led by Venturra Capital, 500 Startups and IMJ Investment Partners. The company plans to open four new showrooms in Jakarta and Bogor, West Java this year. Currently, Fabelio have nine showrooms spread in Jakarta and West Java areas.
Krishnan Menon, Co-Founder and CEO of Fabelio.com, said that through the funding source Fabelio.com has the opportunity to grow its business in multiple areas. The first area to be developed by Fabelio.com is the Home By Fabelio service. Fabelio also have plan to explore new regional markets such as Malaysia and Singapore.