July 16, 2013, 4:33 PM

E-commerce incubator Rocket Internet raises $500 million

The company plans to fund startups in eight regions, including Africa, Latin America and Russia.

Lead Photo

Rocket Internet co-founder Oliver Samwer

Berlin-based startup incubator Rocket Internet, which has helped fund more than a dozen e-commerce businesses among the 100 companies it’s invested in, has raised $500 million in funding since May 2012, it announced today. Of that, $400 million was raised in the last several weeks, a spokesman says.

The funds will go towards expanding Rocket Internet’s businesses globally, with a focus on Europe, Russia, Latin America, Russia, the Middle East, Southeast Asia and Australia, it says.

“The additional capital supports our goal to be the world´s largest and most successful creator of high-impact companies in the Internet space, and reaffirms the confidence our investors have in our business,” says Rocket Internet co-founder Oliver Samwer. “We will use the new capital to further strengthen our global presence while continuing to build successful companies together with great entrepreneurs.”

Previous Rocket Internet investors AB Kinnevik and Access Industries led the round, Rocket Internet says.

Four of the company’s e-commerce sites have also raised money on their own this year: LaModa.ru, a Russian fashion e-commerce site and No. 647 in the 2013 Europe 500 ($130 million); Lazada, a general merchandise e-commerce company in Southeast Asia ($100 million); The Iconic, a fashion e-retailer in Australia and No. 315 in the 2013 Asia 500 ($25 million); and Zalora, a Southeast Asian fashion e-commerce site ($100 million).

Rocket Internet says its other e-commerce ventures include:

  • Latin American fashion e-retailer Dafiti BR, which is No. 34 in 2012 Top 300 Latin America;
  • Middle Eastern fashion e-retailer Namshi;
  • African fashion e-retailer Zando;
  • African general merchandise e-retailer Jumia;
  • Mexican and Central and South American general merchandise e-retailer Linio;
  • European furniture e-retailer Home 24;
  • Latin American furniture e-retailer Mobly; and
  • European, Russian and Latin American housewares e-retailer Westwing.
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