IUIGA opens its first furniture showroom

The Story: Singapore-based omnichannel retailer IUIGA announced the opening of its first furniture showroom at TripleOne Somerset.

The Features: The furniture and furnishings available in the store will be around the range of S$1,000 (US$750) or less. It will also provide complimentary layout design services that include 3D rendering.

The Plan: IUIGA will be opening six more stores by the end of 2020, with more details released closer to the date.

What is IUIGA: Launched in 2017, IUIGA sells products ranging from kitchen products to apparels to electronics. The company has recently raised a US$10 million Series A funding round led by Konimex Technologies, a subsidiary of Indonesian conglomerate Konimex Group.

Also Read: How COVID-19 is changing traditional retail and e-commerce in SEA

Report: SEA-based VC firms lack gender diversity

The Story: In their new Women in VC: The Southeast Asia Edition report, DealStreet Asia revealed that about 76 per cent of VCs with operations in Southeast Asia (SEA) do not have a single female partner. It also stated that for every one female investing partner, there are five male decision-makers in the region.

The Details: The report looked into over 120 SEA-based investment firms in the region, from angel investments, corporate VCs, to accelerators.

Report: Ant Group eyes US$225B valuation in IPO

The Story: Ant Group targets US$225 billion for its dual listings in Hong Kong and Shanghai in the next few weeks, according to people familiar with the matter. This IPO will likely be one of the largest in the world.

Reports stated that the sales could raise about US$30 billion in total if markets are favourable.

The IPO is expected to happen in October the earliest.

The Impact: According to South China Morning Post, the IPO is expected to give another boost to Hong Kong Exchanges & Clearing, which has already seen a renaissance of Chinese tech listings after it relaxed rules in the wake of losing China’s biggest tech firms to New York.

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Anisa Menur Maulani also contributed to this article.

Image Credit: IUIGA

The post In Brief: IUIGA opens furniture showroom, DealStreetAsia reports lack of gender diversity in SEA-based VCs appeared first on e27.