(Pulso Social) Rocket Internet has upped its investment in Airu, a marketplace for handmade and vintage goods, injecting more capital into the Brazil-based startup. Rocket has invested an additional US$2.5 million (R$5 million) in the company.
Airu is a marketplace for handmade and vintage goods. It offers small and independent business owners a platform to sell their products online and give buyers access to unique, quality products. Currently, the Airu platform features around 200,000 products from over 10,000 retailers. It receives roughly two million visits per month.
With this latest Rocket Internet investment, Airu will put its efforts towards achieving US$20 million (R$40 million) in sales by the end of 2013. It will concentrate on expanding its offer in fashion and decorations in order to sustain and increase its 30% monthly growth rate.
Jaques Weltman, Founder and CEO of Airu, told Startupi:
We are reinforcing our platform to offer an even greater selection of fashion and decoration items to our clients. We will soon be Brazil’s leading showcase in these sectors.
This investment will likely help Airu to compete against similar startups active in the space – for example, Elo7, which acquired Argentina-based Bixti last year.
Rocket Internet’s companies have done extremely well this year in terms of investments. And though this latest financing announcement has come from the Rocket itself, it may soon be followed up by outside investors. Its CupoNation investment and launch was followed up with external funding within a matter of months.