African early-stage development fairness and gender lens fund, Aruwa Capital Administration (“Aruwa”) has invested $2.5 million within the female-founded furnishings manufacturing firm, Taeillo.
Taeillo, an internet furnishings producer and retailer, was based by Jumoke Dada in 2018. Initially a B2B firm, in mid-2020, amid the COVID-19 pandemic, Taeillo pivoted to a direct-to-consumer strategy, citing a change available in the market after a number of walk-in shops halted operations. This determination proved to be a hit as Taeillo rapidly gained reputation with the launch of its “Amakisi” desk, promoting greater than 1,000 items in six months.
Since then, Taeillo has expanded into 10 extra product classes, entered the Kenyan market, and shipped greater than 10,000 items of furnishings to over 5,000 prospects in each international locations. In 2021, Taeillo raised a $150,000 bridge spherical from CcHUB Syndicate, tripling its income from the earlier yr.
Nevertheless, Taeillo has struggled to fulfill demand, citing prolonged wait instances on account of working with third-party suppliers, together with suppliers and logistics companies.
With the brand new funding, Taeillo plans to cut back supply instances by pre-manufacturing a few of its best-selling furnishings and to scale its “Pay with Flexi” product, permitting prospects to purchase furnishings and pay in installments.
Taeillo additionally plans to extend its use of augmented actuality and digital actuality expertise to energy digital showrooms and improve its advertising efforts on this space.
