Pomelo to use $1.6-m funding to expand operations :CEO

Just days after securing a a $1.6 million Series A funding, David Jou , the CEO of the Thai online fashion retailer Pomelo, tells DEALSTREETASIA he plans to use the part of the proceeds to launch a sub brand next year, and the rest for expansion to other geographies. Jou says the company, which sells Korean fashion in the sub $100 range, had chosen to launch operations beginning with Thailand, as he considered that country to be the fashion capital of the region. The funding was led by Singapore’s Jungle Ventures along with Skype Co-founder Toivo Annus, 500 Startups, Fenox Ventures, Queens Bridge Ventures and an unnamed major hedge fund in New York.  Edited Excerpts from the interview.