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VC-backed Singtel brings investment to $320m following SingTel deal

2 Aug 2013

anya-handbag_sqThe venture capital arm of Asian communications giant SingTel has invested $10m in online lifestyle goods retailer Fab.com as it explores expansion in the region.

SingTel Innov8 will also provide insight and advice to the business, which looks to serve 25 to 45-year-old consumers looking for home goods, clothing and gifts.

Jeff Karras, managing director at SingTel Innov8, said, “Fab has a unique and growing business, and is exactly the kind of company SingTel looks to partner to best serve our customers in Asia.

“We are pleased to lend SingTel’s market knowledge and networks to facilitate seamless connections between infrastructure, technology and customer reach as Fab continues to build their global lifestyle brand.”

Fab.com has raised a total of $320m from seed through to Series D, and has investors including Andreessen Horowitz, Menlo Ventures, First Round Capital, Baroda Ventures, SoftTech VC, Ashton Kutcher – Guy Oseary and A-Grade Investments.

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