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- Polish augmented reality furniture startup Tylko has raised a $26.2 million Series C round.
- Founded in 2015, Tylko designs and builds modern furniture which users are able to view in place through an AR app.
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Polish augmented reality startup Tylko has raised $26.2 million in Series C funding.
Tylko offers modular-style customizable furniture, and allows users to see what pieces would look like in situ via its AR app.
The startup claimed to see sales rise by 132% through the pandemic.
"2020 was crazy," Tylko CEO and cofounder Benjamin Kuna told Insider in an interview. "Initially we saw a big decrease in sales but in April that reversed to a more than anticipated increase in demand. We went from a fight for survival to a mode of extended capacity selling more stock."
Tylko offers plywood and veneer products as well as further options for customers to customize and configure anything from TV stands to bookcases. The funding will go towards increasing the businesses' 140-strong design and tech teams and expanding its product suite.
The firm is keen to stress its environmental credentials, saying it offers recyclable and plastic-free packaging and quality products which last to eliminate what Kuna calls "fast furniture," similar to fast fashion where items are cheap and disposable.
The Series C investment round was led by Israel-based Pitango Growth and Finnish Evli Growth Partners.
Additionally, Brian Walker, former CEO of Hermann Miller, and Mark Williamson, COO of US-based MasterClass, joined the round as new investors alongside existing backers TDJ Pitango and Experior Venture.
"It was a difficult funding because we never had a physical meeting with investors," Kuna added. "But in a way it was good because remote fundraising levels the playing field for us in Warsaw to speak to more investors like a local."
Funding conversations began last June before closing in late December.
Check out Tylko's Series C pitch deck below:
"furniture" - Google News
March 23, 2021 at 02:00PM
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Tylko: Polish AR furniture startup raises $26 million from VC investors - Business Insider
"furniture" - Google News
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