Online design store Fab has been moving quickly to become a global presence and just scored a “seven-figure” Times Internet of India that will help it launch in India in the near future. The investment by the digital arm of The Times of India, India’s largest media company, comes on the heels of Fab’s acquisition last month of partner True Sparrow, a startup-based in Pune, India that has worked exclusively with Fab.
The stage is set now for Fab to expand into India as one of its next big markets. The company already sells to more than 10 million people in 26 countries. In February, Fab purchased European flash sales site Casacanda, which sells designs products Germany, Austria and Switzerland and followed that up with the purchase of UK-based ecommerce company LLUSTRE.
The new investment comes on top of $ 156 million that Fab has already raised, including a big $ 105 million round in July led by Atomico with participation from Pinnacle Ventures, ru-Net Technology Partners, Mayfield Fund and DoCoMo Capital. Existing investors also include Andreessen Horowitz, Menlo Ventures, Baroda Ventures and First Round Capital.
Fab is on a roll this year and announced it pulled in $ 6.5 million in the first week of holiday sales in November, up from $ 1.7 million over the same period last year. The company introduced holiday shops last month and also updated its iPhone and iPad apps in October.
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