The investment was led by Insignia Ventures, the new firm started by ex-Sequoia venture partner Yinglan Tan. Phillip Private Equity, X Capital Ventures, K3 Venture’s Kuok Meng Xiong, angel investor Koh Boon Hwee, and existing backer Wavemaker Partners also took part. The company is a rare example of a hardware startup coming out of Southeast Asia with a global presence. Inspired by the rise of Airbnb and hosts on the platform, Igloohome sells a range of key-less products that include digital locks, digital deadbolts and a digital safety deposit box.