Furniture Retailer Outer Secures $50M In Series B Funding

Outdoor furniture retailer, Outer, is eyeing international growth on the heels of its $50 million investment round.

The Series B funding was led by Capital Today’s Kathy Xu and supported by Tribe Capital, C Ventures and Upfront Ventures. The company’s existing investors, Sequoia Capital China and Mucker Capital, also participated in the investment round.

The company plans to also use the funding for developing sustainable materials, build an eco-friendly supply chain, expand product offerings and reach new customers.

“Our work in sustainable materials isn’t stopping at recycled plastics,” Liu said in a statement. “We are working on new, eco-friendly fabrics, plastics, and concrete to replace the industry standards that currently pollute our environment. We are currently working towards carbon neutrality and have set our sights on becoming carbon negative in the future.”

Earlier this year, the direct-to-consumer ( DTC) brand opened its 1,000th concept showroom, inviting shoppers to existing customers’ homes to test out its various products. The company has witnessed 1000 percent growth since the start of the pandemic, with sales surpassing $12 million earlier this year.

Originally published at https://retailbum.com on September 21, 2021.