Tech startups have 'good news' for the industry: Fastest-growing, what's changed & more

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GAIA Design has raised more capital to become the West Elm of Mexico

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Designing higher end furniture for Mexico’s rising middle and upper-middle class consumers has netted the Mexico City-based GAIA $15 million in a new round of funding. The bridge round will take the company through to a much larger capital raise planned for 2021 as the company capitalizes on the growth of e-commerce in Mexico. A 2019 report from JP Morgan put the e-commerce market in Mexico at around $22.6 billion, and that’s with online sales only accounting for just 1.7% of the overall retail market. JP Morgan expects the market to increase at a 12.6% growth rate annually. As with everything else, the COVID-19 pandemic has accelerated the adoption of digital services as the country’s population looks to practice safe social distancing and reduce the spread of the virus. For those consumers who can afford to shop online — even for high value products like furniture — they are, according to GAIA chief executive Philippe Cahuzac. At GAIA the new funding will be used to add new f...
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Hong Kong is charting its own web3 path despite China’s anti-crypto stance

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Hong Kong has an on-again-off-again relationship with crypto: Before China outlawed all crypto-related activities in 2021, the Asian financial hub was the early home to several crypto startups, including the now-defunct FTX, which left for the Bahamas after the ban. Now, Hong Kong is again welcoming crypto businesses, only this time with more regulatory clarity. During its government-backed fintech week late last year, Hong Kong indicated its intention to legalize crypto retail trading and introduce a licensing regime for digital asset providers. The plan took more shape in February when the city published draft rules that would allow individual investors to trade certain major cryptocurrencies starting June 1. Companies are already responding to the city’s shift in attitude. As of February, the department for foreign direct investment had received “expressions of interest” from over 80 virtual asset-related companies from both mainland China and abroad in establishing a presenc...
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5 investors discuss what’s in store for venture debt following SVB’s collapse

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