Singapore-based The Artling Pte Ltd has secured $1.78 million from Edipresse Media, a European luxury lifestyle media company. Talenia Phua Gajardo, The Artling’s founder, who has an architectural background having previously worked for Zaha Hadid in London, says,
With our strength as the leader in this rapidly growing space, this Series A round enhances The Artling’s role as a digital storefront that connects artists in Asia with the world.
The group which owns Asia’s pioneering online art platform, theArtling.com, and luxury marketplace, Luxglove.com has also made an acquisition in order to expand into Hong Kong. It has taken over Artshare.com, an online platform dedicated to the exhibition and sale of Chinese contemporary art.
The platform’s founder, Alexandre Errera will continue to work with the group as an advisor to Artshare.com. He will continue as an art advisor, focusing on Chinese contemporary art, and blue-chip modern and contemporary Western art.
With the acquisition, the group aims to be known as one of the most dynamic and ambitious companies in Asia’s online art market.
After founding the Artling in 2013, the second platform, Luxglove.com, was launched last year which is an online luxury collectibles marketplace dedicated to seven verticals, some of which include pre-owned and vintage jewelry, watches, classic automobiles, and whisky.
The platform recently closed the sale of a vintage classic car and an S$85,000 bottle of 50-year old Yamazaki single malt, reaffirming the rapidly growing trend of high-priced items being discovered and purchased online.
Edipresse Group, a family-owned enterprise, has actively expanded its portfolio to encompass both print, digital and event media properties across Europe and Asia, where Edipresse owns the leading luxury lifestyle media brand Tatler. Michel Lamunière, Chairman, and CEO of Edipresse Media Asia, says,
Our investment in The Artling is in line with our strategy to reinforce our position in the digital media and e-commerce spaces in Asia. Art and luxury products are increasingly being bought online, and The Artling, under the leadership of Talenia, is in the best position to become the leading platform in Asia in this segment.
