Afro-urban furniture startup Taeillo has secured $2.5 million in funding from investment company Aruwa capital, as it unveiled its expansion plan.
Taeillo operates with its unique product offerings by infusing cultural elements, which have gained the popularity of some of its furniture among the Nigerian millennials, and the working-class demographic.
In 2021, the startup raised a $150,000 bridge round from CcHUB Syndicate as it tripled its revenue from the previous year.
Speaking on its investment in the furniture startup, Aruwa Capital Founder & Managing Partner Adesuwa Okunbo Rhodes said, “We are thrilled to announce this investment into Taeillo as it aligns with nearly all of our investment objectives.
“Since its inception, the Company has maintained its innovative model in a traditional brick-and-mortar industry, creating a unique value proposition for its customers in a fast-growing, underserved market.”
Due to the hassles most Nigerians face when purchasing furniture, from the lack of expertise of artisans to deliver customers’ preferred designs, to the purchase of exorbitant furniture.
With the sole aim to help every African in urban and peri-urban cities buy furniture from the comfort of their home, Taeillo utilizes e-commerce, social commerce, and immersive technology (AR/VR) to offer customer-centric furniture designs, allowing customers to sample superior African products from the comfort of their homes, choosing the furniture that meets their unique taste.
Also Commenting on the funds secured, Founder & CEO of Taeillo Jumoke Dada said, “This investment by Aruwa Capital will take us closer to our goal of becoming the IKEA of Africa by providing quality, ready-to-assemble, made-in-Africa furniture pieces at an affordable price point for the mass market, while also optimizing our operations, delivery time, and customer experience. We are grateful to the Aruwa Capital team for their belief in our vision.”
Taeillo operates with environmental consciousness by ensuring that its production processes include zero waste. Launched in 2016, the startup shipped more than 5,000 pieces of furniture and created 300 direct and indirect jobs within two years of operation. It has sold over 200 pieces of furniture in Nigeria.
Its pivot came with the launch of the “Amakisi” table sold at $29,999/~$85, a work table and one of its best-selling products which quickly gained popularity and sold over 1,000 pieces in six months.
Since then, Taeillo has expanded into 10 additional product categories, moving into East Africa Kenya, and has shipped more than 10,000 pieces of furniture to over 5,000 customers in both countries.
The company which doubles as a manufacturer and retailer can be likened to Wayfair and now-defunct Made.com.
Taeillo has taken a step further by infusing technology into its business, by allowing customers to envision their ideal space using a VR headset to go through the furniture and purchase them without the worry of it fitting into their space. This strategy has no doubt appealed to the millennials and Gen Z who make up the bulk of its target market.
In previous years in Nigeria, most people preferred foreign furniture to local ones, but brands like taeillo are changing the narrative by offering premium furniture with a fuse of local and contemporary designs that preserve African culture whilst giving customers the modern aesthetic they crave.
Every taeillo piece exudes finesse, elegance, and style, which gives a customer’s space a vibrant yet indigenous feel which uniquely projects and blends Africa with other parts of the globe.
As a local manufacturer of quality and affordable furniture, Taeillo’s solution is critical for the African continent where the alternative is to import bulky, expensive furniture from overseas, incurring significant costs combined with an unstable exchange rate, and enduring long wait periods of 3-6 months before the furniture is delivered.
