Fabelio plans to use the funding to develop new technology features, strengthen logistics infrastructure, offer a larger assortment of products, as well as explore new regional markets such as Malaysia and Singapore.
“We will be spending resources to explore supply scene in Malaysia this year, as well as other factors like logistics. We see ourselves entering Malaysia in late 2016 or early 2017, and possibly serve Singapore [through it],” said Krishnan Menon, CEO and Co-founder of Fabelio, via an email to e27.
“In fact, we have made a strategic hire in the executive team to head international expansion. The Southeast Asian market is wide open and we intend to go after it aggressively,” he added.
The startup will also grow the team and open a new showroom in Panglima Polim, South Jakarta, in March 2016.
Launched in June 2015, the startup aims to make high-quality furniture more accessible by ‘streamlining traditional supply chain and innovating conventional design-manufacturing process’.
Apart from offering products developed by an in-house design team, Fabelio also partners with local ‘home and living’ brands. It provides an online marketplace, as well as project and supply management tools.
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The startup’s new product acts as an aggregator of the latest Burmese language news articles from reliable sources in Myanmar. The app will soon come out of Beta and is due for public release soon.
“We are focussed entirely on the Burmese user and Myanmar demographic for now, but will look to partner with similar search and media tech teams in other countries in the long run, depending on the evolution of our technology and products,” Batra said.
Bindez has partnered with telecom operator Ooredoo and device manufacturers and distributors, besides content hubs to bring the product to over 50,000 users in the country. So far, it has rolled out key information features related to the devastating Myanmar floods in July 2015 and the historic general elections in November 2015, drawing high engagement and public attention.
Khailee Ng, Managing Partner of 500 Startups, said: “In most parts of the world, Internet platforms like Facebook or Google are dominant. But in Myanmar, we see Bindez offering a locally developed, alternative way of consuming real-time, relevant information.”