LuxDeco secures £1.55 million Seed investment via Crowdcube

LuxDeco, a UK-based platform that connects high-end interior brands and artisans to luxury consumers and design professionals through their curated online marketplace and personal stylist recommendations, is set to close its equity crowdfunding campaign on Seedrs with more than £1.5 million in funding. The round was launched last month and has so far attracted over 180 investors.

As previously reported, LuxDeco is on a mission to change that by connecting luxury shoppers across the globe to the “world’s finest” interior brands through a curated online marketplace, personal shopping technology, and white-label e-commerce service.

“What we believe sets us apart from traditional e-commerce is our use of data science, proprietary algorithms, and expert curators to aggregate & standardise product data from hundreds of partners and then present the most relevant selection to users. This approach allows us to offer a curated selection of products from 350+ premium brands with minimal inventory risk while offering a personalised shopping experience.”

LuxDeco then further explained its vision is to become one of the largest luxury home decor retailers in the world by simplifying the process of shopping for luxury interiors online.

“With £920 average order, we’ve seen £13m+ gross sales to date. Y/E March 2019 we achieved £546k gross profit after fulfillment (-£1.59m P+L). Over 350 leading interior brands have joined the platform, including Ralph Lauren and Aerin.”

Funds from the Crowdcube round will be used to continue the development and growth of the LuxDeco platform. The company is offering 9.38% in equity at a £14,500,000 pre-money valuation. The crowdfunding campaign is set to close on Tuesday.

Source: https://www.crowdfundinsider.com/2019/07/149464-update-luxdeco-set-to-close-crowdcube-round-with-more-than-1-5-million-in-funding/

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.