The Artling Pte Ltd, owner of Asian online art platform, theArtling.com, and luxury marketplace Luxglove.com, have closed an investment of S$2.5 million ($1.74 million) from Edipresse Media, a luxury lifestyle media company in Asia and Europe.

The Artling is also simultaneously expanding into Hong Kong/Greater China with the acquisition of Artshare.com, an online platform for Chinese contemporary art founded in 2013 by Alexandre Errera. With this acquisition, The Artling is aiming to grow its presence in Asia’s online art market. The acquisition will see Errera operate as an advisor to Artshare, focusing on Chinese contemporary art, and blue chip modern and contemporary Western art.

Talenia Phua Gajardo, The Artling’s founder, said, “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.”

Just last year, The Artling launched a second platform, Luxglove.com, an online luxury collectibles marketplace dedicated to seven verticals, some of which include pre-owned and vintage jewellery, 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 is a family-owned enterprise headquartered in Lausanne, Switzerland. It 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. Edipresse also carries investments in several luxury lifestyle related digital companies in Europe.

“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” says Michel Lamunière, Chairman and CEO of Edipresse Media Asia.