Tylko raises €22 million in Series C as part of its commitment to set new standards in the furniture industry
The €22m investment follows a strong year for Tylko, with its unique approach to furniture design generating a 132% increase in sales in 2020 in comparison to previous years.
Tylko, the Polish digital-first furniture company, announced the close of a €22 million Series C round of funding led by Israel-based Pitango Ventures and Finnish Evli Growth Partners. Since its creation in 2015, Tylko has served almost 60,000 satisfied customers and showing no signs of slowing down. The new investment shows confidence in Tylko’s offering of premium design coupled with a user experience that puts the customer in control. The brand’s unique business model is premised on its belief that through investment in innovation and cutting-edge technology, the furniture industry can be swayed from ‘fast furniture’ towards durable, user-first products. By embedding conscious consumption in everything it makes, Tylko incorporates sustainability into high-quality and well-designed products.The Series C investment round was led by Israel-based Pitango Growth and Finnish Evli Growth Partners, following previous investors TDJ Pitango Ventures and Experior Venture Fund. Additionally, Brian Walker, former CEO of Hermann Miller, and Mark Williamson, COO of US-based MasterClass, join as new investors.The new funding will support Tylko’s further expansion into markets beyond Europe as well as the launch of new product categories. Currently, Tylko’s portfolio consists of the original Type01 in Plywood and Veneer and its successor the Type02, two product families in which customers can configure anything from a bookcase to a shoe rack to a TV stand. In late 2020, Tylko introduced a new product category, with a new version of the configurator and extra features. This illustrates how easily Tylko can expand its product portfolio: simply with further software upgrades, a whole new product family can be made. Further product development in this way is planned for 2021.