Lipa Later-owned Sky.Garden to launch rebranded e-commerce

Points clés à retenir

In September 2022, a year after securing a $4 million Series A funding round, Sky.Garden made the unexpected announcement of ceasing its operations, citing the challenge of securing additional funding as the primary reason. Martin Majlund, co-founder and CEO of Sky.Garden, revealed that the company was actively engaged in discussions with investors in an attempt to avert the closure. However, just two months later, the landscape changed when Lipa Later Group stepped in and acquired Sky.Garden, taking full ownership of the e-commerce startup. Eric Muli, CEO at Lipa Later, expressed optimism about the acquisition, emphasizing its potential to establish a comprehensive platform connecting merchants directly to customers. Muli stated, "Sky.Garden has done an incredible job and checks all those boxes. Lipa Later is no stranger to the e-commerce industry, having already established a strong presence in the online payment and finance sectors. This acquisition has greatly accelerated our plans of redefining the shopping experience for consumers." The acquisition positioned Lipa Later to further expand its influence in the e-commerce realm and enhance the overall shopping journey for consumers.