Fab Adds $10 Million More To Its Monster Series D Round From SingTel Innov8
Aug 1, 2013, 18:49 IST
Daniel Goodman / Business InsiderLast month, Fab announced a $150 million fundraise as part of an on going Series D round. Now it has added $10 million more to that fundraise from SingTel Innov8, the VC arm of Asia communications company, SingTel Group. SingTel will help Fab create a strong customer service experience abroad. "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,” SingTel Innov8's Managing Director Jeff Karras said in a release. Fab says more Series D investors will be announced soon, as they sign on. Fab has now raised $320 million total and it's expected to raise $90 million more. Earlier this week it laid off more than 100 employees in Europe in an effort to cut duplicate jobs and transition away from flash sales.