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Business deals

Thai fashion startup Pomelo raises $52m for Asian growth

Funds to underwrite big data and AI development for retailer

Pomelo operates this store in a Bangkok shopping mall, though most of the company's sales are online. (Photo by Akira Kodaka)

BANGKOK -- Online fashion retailer Pomelo raised $52 million in its latest funding round, the Thai startup said Thursday, as the company prepares to expand operations in Asia.

Participants in the series C funding include Thai retail conglomerate Central Group and Provident Growth Fund, a venture capital group based in Hong Kong.

Pomelo looks to apply big data and artificial intelligence to clothing design and pricing as well as personalizing the e-commerce experience, co-founder Casey Liang said. The retailer designs and produces its clothes, selling primarily through its website, though the brand has opened physical stores in Thailand and Singapore.

Since its founding in 2013, Pomelo reportedly has raised a total of $83 million. Chinese e-tailer JD.com was a previous backer, along with Start Today Ventures, an investment company tied to Japanese digital apparel seller Zozo.

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