Hong Kong-based online social commerce platform for fashion and beauty products, Goxip, has raised US$5 million in Series A funding, which includes a US$1 million from Nan Fung Group’s Mills Fabrica Fund.
Goxip plans to use the investments to further expand its presence in Hong Kong and continue to expand into Southeast Asia, especially in Thailand.
Goxip is an online shopping platform that combines fashion and beauty products from different online retailers, targeting fashion lovers and bloggers. With Goxip’s product/brand recognition technology, fashion aficionados can purchase similar apparel worn by celebrities or key opinion leaders, and make recommendations to friends.
The company has partnered with more than 500 international online retailers, and has over 36,000 luxury brands and five million merchandise in its database.
Cheney Cheung, Founder of Nan Fung Mill, said: “The establishment of the Nan Fung Workshop Investment Fund has enabled us to provide more support to startups in the global techstyle to further their growth. We believe Goxip has great potential for global expansion and changing the fashion retail model, and we hope that more techstyle entrepreneurs will continue to inspire other techstyle startups in the community, especially in Hong Kong.”