French VCs inject €4m into Miliboo

Auriga invested €2.5m in Miliboo via its Auriga Ventures III fund in January 2011, securing a minority stake in the company.

Miliboo will use the fresh capital to bolster its catalogue of original creations, with a view to double the number of available items within the next 12 months.

Naxicap had been following the online furniture store segment for several years and was attracted by the relevance of Miliboo's business model. Sigma Gestion added that it was impressed by the company's logistics solutions.

The fundraising round was intermediated by consultancy firm MGT.

Company
Founded in 2007, Miliboo designs, manufactures and distributes furniture through its Miliboo.com website. The company is based in Annecy and distributes its products in seven European countries besides France.

Miliboo is expecting to post a €12m turnover this year, up 60% on 2012 figures. It is aiming for a €25m turnover by 2015.

People
Jacques Chatain led the deal for Auriga. Naxicap was represented by Antoine Le Masson and Nicolas Sebille. Guillaume Hemmerlé and Géraud de Ferrières worked on the deal for Sigma.

Advisers
Company – MGT, Jean‐Marc Dumesnil (Corporate finance).

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• Topics
• France
• Expansion
• Consumer
• France
• Naxicap