Monoco is a flash sales e-commerce site specializing in limited quantity fashions selected by curators and buyers worldwide. The company announced today that it has received an undisclosed amount of funding from Fuji Startup Ventures, the investment arm of Japanese TV network Fuji TV.
Coinciding with this funding, the two companies are expecting to work on collaborative product development and explore possible sales opportunities on Fuji TV’s own programs. Furthermore Monoco plans to launch a physical store in Shibuya, Tokyo on September 27th, to be called Monoco Showroom.
The company has been seeing good progress of late as well. I spoke with the startup’s CEO Takehiro Kakiyama back in April of last year, when his team has just shifted their gears to become Monoco after its previous efforts under the FlutterScape banner. The team has devoted itself to growth since them, and raising funds (thought to be in the millions of dollars) from Japanese telco KDDI back in July.
Monoco now has over 80,000 users, and has partnered with 1,100 product designers
Kakiyama didn’t disclose any revenue figures, but he did say that the marketplace now has over 80,000 users, has partnered with 1,100 product designers (both in Japan and around the world), and has over 50,000 items available on the platform.Their headcount has reached 22, way up from five when the service was launched.
It will be interesting to see how Monoco will compete in this space now that it has the support of this Japanese media giant.