IUIGA bags $10m in series A funding

The funding will be used for product development and technology investment.

Singapore-based ecommerce startup IUIGA Technologies received $10m in series A funding led by Indonesian conglomerate, Konimex Technologies.

The funding will be used for product development and technology investment as well as to broaden the reach of its omnichannel business model across Southeast Asian markets.

The funds will also be channeled across IUIGA's Singaporean and Indonesian operations as it intends to double down on its business operations as well as on hiring to accommodate the expansion.

Since IUIGA’s launch in 2017, the brand has established nine physical stores in Singapore and anticipates opening more physical retail outlets in the future.