Berlin furniture start-up MYCS has secured Euro 10 million in its Series B financing round. Its existing investors were joined by London-based venture capital firm Beringea and Zimmermann Investment from North Rhine-Westphalia.
With the injection of capital, MYCS plans to further develop its photorealistic 3D online configurator and to expand its European presence and range of modular configurable furniture.
MYCS offers a modular system of customisable furniture and produces made-to-measure items for everyone who wants to design their own home. Customers can choose the size, material, colour and features of their dream products themselves. Its range includes shelving, tables, sideboards and wardrobes as well as a large selection of chairs.
The company currently markets its products in Germany, Switzerland, Austria and France. It plans to add further locations in the United Kingdom, Italy, Scandinavia and the Netherlands.
"MYCS has quickly established itself as one of Europe’s fastest-growing online furniture retailers", commented Maria Wagner, Investment Director at Beringea. "We were very impressed with the co-founders and their vision of putting personalisation at the heart of furniture retail. We look forward to joining them on this journey."
The start-up has grown rapidly since serial entrepreneurs Christoph Jung, Kachun To, Claudio Bredfeldt and Kai Sap founded the company in 2014. It ended 2017 with a run rate of Euro 20 million, which is expected to double this year.
"It’s not just the high quality of MYCS products that has contributed to its considerable success", explains co-founder Christoph Jung. "With our modular concept, we are able to produce cost-effectively and offer our products at affordable prices. This and our optimised warehousing processes combine to give us significantly shorter delivery times than in mainstream retail trade. We offer something that wasn’t previously available: personalisable furniture deliverable in short timescales."