A maiden external investment for Swoon Editions has seen the furniture e-commerce site team up with Index Ventures and Octopus Investments.
A new approach to online furniture buying has raised £1.2 million from a syndicate of venture capital firms and angel investors.
Swoon Editions, which previously traded as Decoholic, operates as an ‘audition-led’ furniture business. The company goes direct to furniture makers so that it can sell each piece before it leaves the workshop – with each piece forming part of a numbered, limited edition batch.
Founded in March 2012 by former kgb deals and The Number UK CEO Brian Harrison and ex-digital product development head at Telegraph Media Group Debbie Williamson, Swoon Editions has secured experienced e-commerce backers Index Ventures and Octopus Investments as investors.
Harrison, CEO of Swoon Editions, comments, ‘We believe people should be able to own beautiful furniture without paying six times what it costs to make.
‘We figured if we could identify pieces that people really covet, and only make those, there was an opportunity to deliver great designs to consumers at market-beating prices.’
More on furniture funding deals:
- Made.com raises £6 million in funding
- Hoberman’s mydeco secures eVentures investment
- Zutex manufactures growth deal
New backer Index Ventures has a number of UK-based e-commerce start-ups contained in its portfolio such as craft website Notonthehighstreet, fashion boutique farfetch and women’s shoes platform StylistPick. Fellow investor Octopus Investments has, in the last year, invested in e-commerce offerings including ski equipment and apparel provider The Faction Collective and retail network Shopa. The firm also provided £149,000 to Swoon Editions earlier in the year when it was trading as Decoholic.
Robin Klein, venture partners at Index Ventures, says, ‘Debbie and Brian use their exceptional analytical skills and meticulous attention to quality and detail in order to simplify an often complex and inefficient supply chain.
‘The result is a compelling business model for both investors and customers.’