Co-founder of Vinted Justas Janauskas invested in German used furniture marketplace Cocoli
Co-founder of Lithuanian unicorn Vinted Justas Janauskas participated in a €3M round of German used furniture marketplace Cocoli. Amongst other investors were the venture arm of Spanish classifieds company Adevinta, Barcelona-based investment firm Ship2B Ventures, and Berlin-based IBB Ventures, a co-founder of French marketplace of used clothes and accessories Vestiaire Collective Fanny Moizant and CEO and founder of research company IPSOS Helen Zeitoun.
The company will use the investment to expand operations and its business reach.
Founded in 2021 by Gemma Comabella, Frank Stehle, Greta Schindler, Julien Callede, and Stefano Uliari, Cocoli is an online platform for buying and selling used quality design furniture, lighting, and accessories. It is a solution for private sellers, furniture retailers, and brands, who can sell and ship their second-hand items, end-of-stock collections, showroom pieces, certified vintage products, and items with cosmetic blemishes.
The company takes the product from the owner and keeps it in its hub. The seller can also keep it at his place until it is sold. After the purchase, Cocoli will pick up the furniture, check the quality, pack it, and transport it to its hub. According to the product's quality, the price for each piece can range between 30% and 70% less than a new one.
The company has more than 350K products. Cocoli partners with interior brands, including Sofacompany, MYCS, and Blomus.
The startup's team will work on optimization, unit economics, and measuring and improving its carbon footprint management. It also plans to automate order and route management, and pricing.
Talking about climate footprint, Cocoli has several hubs instead of one central, and that reduces transportation miles. Besides, Cocoli doesn't ship items until a whole truck is full.
Justas Janauskas invested in Lithuanian AI startup Perfection42, a Latvian developer of robots that help maintain blades and towers of wind turbines Aerones, Lithuanian Contrarian Ventures, and Luxemburg-based Mangrove Capital Ventures.
