Business

Softbank leads a new investment of $ 110 million in the Brazilian startup MadeiraMadeira

This was the biggest investment to date received by the startup, which currently on track to becoming future unicorn

  • The Brazilian home products startup MadeiraMadeira received a $ 110 million investment led by Softbank
  • Other funds  have been invested in companies such as Uber and Rappi 
  • The startup is an up and coming Brazilian unicorn 

Softbank has a new target for the $ 5 billion fund announced for Latin America startups. The Japanese fund is now betting on the home products retailer MadeiraMadeira, addressing an investment of $110 million for the startup. During the same funding round, Light Street Capital and Flybridge Capital Partners, both of which have invested in Uber and Rappi, have now also invested in MadeiraMadeira. 

Located in the city of Curitiba, one of the most promising tech-hubs in Brazil and considered as one of the “Silicon Valleys” in the country, MadeiraMadeira was born in 2009 and has its own model business that brings together the concept of e-commerce and marketplace. Now the company has achieved the position of the biggest Brazilian home products online store, according to the brand’s website information. 

Surpassing the last $ 38.8 million investment received by the company, now it is the biggest investment ever targeted to MadeiraMadeira, and the CEO revealed in an interview for Exame that the fund will be used to improve technology, customer experience, and especially logistics, since the company has recently founded a new startup inside of its own company called “Bulky Log” with the goal of handling logistics projects in Brazil.