GAIA Design, an online retailer based out of Mexican City has raised $2.5 Million in a funding round, which saw participation from various Mexican & International investment funds and super angels.
There has been a steep increase in the number of startups getting attention of investors in the Mexican region. The investment round, led by Mexican investment fund Capital Invent and emerging market venture capital fund Rise Capital, saw participation from FJ Labs, Variv Capital, Cubo Capital and executives from international industrial and investment firms including Digital Sky Technologies.
The company came into existence back in October 2014 to cater to the furniture needs of middle and upper middle class of Mexican urban population. Founded by Raffaello Starace, Hassan Yassine, and Philippe Cahuzac (the colleagues at a Brazilian Furniture Design Startup). The opportunity in the emerging markets convinced the trio to start a similar venture and Mexico became the most suited destination.
In over a year of operations, the startup has made revenue of $4 Million from around $7000. Priced in the range of $100 to $500, the company has end tables and chairs as the best products.