Sprii, an online marketplace that focuses mainly on baby products, has so far done a pretty neat job securing seven-figure investments from regional and global investors. The Dubai-based startup announced earlier this week that its recent Series A funding round added an additional $8.5 million to its kitty.
With that, the total investment raised by the company has shot up to $13 million. Sprii has so far remained tight-lipped about the investors that participated in the latest round. However, it did mention that contributions came from existing, as well as new investors.
Among the contributors were a few “new strategic players with interests across the retail, logistics and finance spaces,” read a statement from the company.
Sprii was officially launched in 2014 under the brand name Mini Exchange. Sarah Jones, the founder, then rebranded the company under its current name in 2017.
Sprii’s web and mobile-based marketplace offer a wide variety of products including strollers, diapers, maternity wear, nursery furniture and decors, and so on.
“The technology platform is currently delivering 20% month-on-month growth, earning them a reputation as one of the most dominant forces within the regional e-commerce mum and baby market,” the startup noted in a statement.
Sarah, meanwhile, expressed her thoughts on the company’s ongoing success by saying: “The first six months of 2019 have exceeded our expectations. We have launched a new app, opened our operations in Saudi and have now finalized our funding round early, which will allow us to continue to deliver on our promise to our loyal customers.”
Following its success on the home-turf of UAE, Sprii expanded to Saudi Arabia earlier this year. The company also has a significant presence in Bahrain, Kuwait, and Oman.