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Singapore sneaker marketplace Novelship bags $9.5m

Series B funding round led by VC firms in city-state, Indonesia and China

Founded in 2018, Novelship recently collaborated with American rapper Snoop Dogg to expand its collection and has also launched its own branded T-shirts, socks, shoelaces and shoe sole protectors. (Photo by Ken Kobayashi)

KUALA LUMPUR -- Singapore-headquartered online streetwear marketplace Novelship has secured $9.5 million in a Series B funding round led by venture capital (VC) firms East Ventures, iGlobe Partners and GSR Ventures, which are based in Indonesia, Singapore and China, respectively.

In a statement on Thursday, Novelship said the capital will be used to amplify its brand presence across Southeast Asia, including enhancing its logistics capabilities, refining authentication processes, expanding in-house collections and optimizing environmentally conscious delivery processes.

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