What is Chronext?
Founded in Switzerland in 2013, Chronext has evolved into a comprehensive e-commerce destination for luxury watches. The platform facilitates the buying, selling, and trading of new, pre-owned, and vintage timepieces, boasting an impressive average shopping cart value of €7,000 and a remarkable average annual sales increase of 230 percent. This sustained growth highlights Chronext's successful strategy in capturing a significant share of the luxury watch market.
How much funding has Chronext raised?
Chronext has raised a total of $51.7M across 3 funding rounds:
Series B
$5.3M
Series C
$12.4M
Private Equity
$34M
Series B (2015): $5.3M with participation from Partech Ventures, Capnamic Ventures, Altus Capital, NRW Bank, MGO Digital Ventures, and Playfair Capital
Series C (2016): $12.4M led by Octopus Ventures, NRW.BANK, Partech Ventures, Inventure Partners, and Capnamic Ventures
Private Equity (2018): $34M supported by Tengelmann and Endeit Capital
Key Investors in Chronext
Partech Ventures
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar, bringing together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents. They invest in a wide range of technologies and businesses for enterprises and consumers.
Capnamic Ventures
Capnamic is a venture capital firm that invests in ambitious founders in the German-speaking regions, focusing on early-stage investments from (Pre-)Seed to Series A. They emphasize investments in tech companies and are particularly interested in supporting B2B and SaaS sectors.
NRW Bank
NRW.BANK is the state development bank of North Rhine-Westphalia, supporting its owner the state in its structural and economic policy tasks through a wide range of promotion tools from low-interest promotion loans to equity finance to advisory services.
What's next for Chronext?
The substantial enterprise-level funding and major strategic investments Chronext has attracted indicate a strong market validation and provide the company with the necessary resources for accelerated expansion. Future initiatives are likely to focus on enhancing the platform's user experience, expanding its inventory of rare and high-demand watches, and potentially broadening its geographical reach. Continued investment in technology and logistics will be crucial for maintaining its competitive edge and supporting its ambitious growth objectives in the global luxury watch sector.
See full Chronext company page
