SIGMAS Raises $1M Seed Round Led by Mucker Capital and HongShan Capital formerly "Sequoia China"

Marketplace-born performancewear brand incubated through SHEIN's SCAAS program expands into direct-to-consumer channels on SHOPLINE.

LOS ANGELES, March 26, 2026 /PRNewswire/ -- SIGMAS, a performancewear brand incubated in partnership with SHEIN through its exclusive Supply Chain as a Service (SCAAS) program, today announced a $1 million seed round co-led by Mucker Capital and HongShan Capital (HSG), formerly Sequoia China.

SIGMAS was originally incubated through the SHEIN SCAAS program, which provides select emerging brands access to SHEIN's manufacturing, logistics, and merchandising infrastructure. The opportunity to participate in the program was facilitated through HongShan Capital, enabling SIGMAS to rapidly prototype, launch, and scale product on global marketplaces.

Through this model, SIGMAS launched more than 600 SKUs focused on men's activewear, using high-velocity marketplace feedback to refine product design, pricing, and merchandising before expanding into owned channels.

SIGMAS is led by co-founders Jay Cheng and Daniel Hoang.

"From day one, our mandate was clear: level up the aesthetics of activewear and athleisure, deliver 'priced-for-destruction' value, and build a community around the SIGMAS identity and mindset," said Jay Cheng, Co-Founder of SIGMAS. "Marketplace incubation allowed us to validate demand quickly while learning directly from real consumer behavior. The long-term vision, however, has always been to build a brand platform that serves athletes and coaches directly."

HongShan Capital has invested alongside leading partners in consumer brands such as Amer Sports — parent company of Wilson, Arc'teryx, and Salomon — and the firm recently participated in the acquisition of Golden Goose in a multi-billion-dollar transaction.

"I've known Jay for years as both a relentless operator and a true fitness fanatic," said William Hsu, Co-Founder of Mucker Capital. "He understands modern commerce inside and out, and paired with Daniel's manufacturing depth, we believe this is the right team to break through in performance."

As SIGMAS expands its direct-to-consumer presence, the company has selected SHOPLINE as its commerce infrastructure to support its owned-channel strategy and international growth.

"Founders like the SIGMAS team represent exactly who we built SHOPLINE for—ambitious, channel-native brands that need enterprise-level infrastructure without enterprise complexity," said Christopher Yang, Co-President of SHOPLINE.

Cheng studied Business Economics at UCLA and was employee number five at his family's import business as it scaled to 500 employees. He has since built and exited consumer startups dating back to the early 2010s.

Cheng was previously backed by Mucker Capital in an earlier venture. After that company faltered following a marketplace pivot, Mucker returned nearly a decade later to back him again—this time alongside HongShan Capital.

Hoang brings more than a decade of experience in activewear manufacturing and private-label production, having worked closely with global factories to develop performance apparel from material sourcing and pattern engineering through final production. Through the company's incubation on the SHEIN SCAAS program, Hoang personally oversaw the manufacturing of roughly 90 percent of the SIGMAS product line, helping translate marketplace demand into scalable production.

In doing so, Hoang also collaborated closely with partners across SHEIN's supply chain network, contributing technical manufacturing expertise that helped elevate production standards for performance-oriented activewear within the ecosystem.

He also maintains ownership in a manufacturing facility in China, giving SIGMAS direct production visibility and operational leverage across its supply chain. That vertical familiarity allows the company to engineer products with premium aesthetics and performance materials while maintaining aggressive pricing, complementing the rapid product iteration enabled through the SHEIN SCAAS ecosystem.

About SIGMAS

SIGMAS is a performance-driven fitness brand building the next generation of activewear and tools for hybrid athletes and coaches. Born on global marketplaces and architected for owned-channel scale, SIGMAS combines high-SKU merchandising, disciplined pricing, and fitness-native product insight to deliver best-in-class value for everyday performance. Learn more at: https://sigmas.com/

About SHOPLINE

Founded in 2013, SHOPLINE is a leading global commerce Software-as-a-Service (SaaS) provider empowering brands and retailers to build, launch, and scale their businesses worldwide. SHOPLINE offers a fully integrated platform covering ecommerce, POS, social commerce, omnichannel marketing, B2B management, and more. Headquartered in Singapore, the company operates globally with more than 2,000 employees. Learn more at www.SHOPLINE.COM

Contact: David Wamsley, [email protected]

SOURCE SHOPLINE; SIGMAS