TDJ Pitango Ventures invests 15 million PLN in Polish Tylko
The application for ordering bespoke furniture is already the fifth investment of the fund over the last 12 months. Tylko, supported by international investors and designers is a game changer on the market worth 330 billion USD.
“Tylko is not only a new brand of bespoke furniture. We are creating a new category on the market,” describe themselves the creators of Tylko – the company that sells furniture to 28 countries. This means thousands of shelves ordered each month by customers from around the world. Now, the Polish company enters a new phase of international expansion, with a powerful capital injection from its new investor: TDJ Pitango Ventures. This Polish-Israeli investment fund has spent nearly 15 million PLN (3.9 million USD) on the development of Tylko. For TDJ Pitango Ventures it is already the fifth investment over the last 12 months.– Tylko is a breakthrough on the market that is currently worth 330 billion USD a year. The company has been on our investment radar for a long time. We closely observed how the brand creators were approaching its development, focusing on international markets from the very beginning. And they have this approach in their business DNA, which is also extremely important to us. Tylko is about a unique product with an exceptional sales and delivery process and remarkable design. This brand stands a chance to become one of the leading global e-commerce brands in its segment within a short time, predicts Wojciech Fedorowicz, managing partner of TDJ Pitango Ventures.– The fuel for growth provided by the new investor means opening new markets and a fresh intensity in the development of sales and the product itself. From the very beginning, Tylko was bent on becoming a unique brand, combining design with the latest technologies and consumer involvement. And the number of customers who look for beautiful, tailor-made and unusual products is growing, emphasizes Benjamin Kuna, vice president and one of the five founders of Custom – the owner of the Tylko brand.What is the uniqueness of Tylko, already appreciated by almost 15,000 customers, all about? This Polish brand offers a breakthrough product and service, changing the way in which interior furnishings are ordered and sold. With Tylko, customers can benefit from simple and intuitive tools to design their own furniture in line with the adaptive design concept. Thanks to the application, which is based on augmented reality and parametric modelling, the entire process takes just a few minutes and gives the user an endless combination of possibilities, including free choice of furniture heights and widths. Colour schemes of Tylko products, which are made in several selected factories in Europe, can be customised as well. The furniture can be easily and repeatedly assembled and disassembled.– Tylko is the outcome of several years of efforts by the team that currently involves several dozen people. Our advantage is an excellent product, including both the application and the furniture product itself, combined with a refined production and logistic process, emphasizes Benjamin Kuna, adding that Tylko has just launched a new product line: Tylko Type02.Since the company’s start in 2013, Tylko business has been supported by a few significant investors, including famous Swiss designer Yves Behar (currently a member of Customs Supervisory Board) and Paua Ventures – a fund from Berlin, known for its investment in Stripe Californian, currently valued at 20 billion USD.Wojciech Fedorowicz, managing partner of TDJ Pitango Ventures, the portfolio of which also includes Cosmose, Neptune.ml, CallPage and StethoMe says:– The above-average potential of the team of and investors in Tylko means that over the next few years the profit growth should be exceptional too. The business model based on the user-application-factory trio holds that promise. The more so that according to forecasts, among others by Technavio, the online furniture sales market is expected to grow at more than 15% a year.