5 in 5 minutes - Oct 21st

Hong Kong wearable Kiddo raises US$2M

Good Parents Inc, a startup that focuses on children's health and wellness, has raised US$2 million in seed funding in a round led by Jungle Ventures. Bangalore's Fireside Ventures, Singapore's Bio Sensors International, Mumbai's Gaja Ventures also co-invested.

Founded in 2015, the Hong Kong-based startup develops Kiddo, a wearable for children aged from four to ten years old, the wearable tracks key biometrics for children and provides real-time health and development insight to a mobile app. The funding will be used to continue its expansion and further invest into developing Kiddo.

Hong Kong-based IC Studio launches Betatron Startup Accelerator

IC Studio launched the Betatron Startup Accelerator Programme, a three-month founder-focused programme.  Five startups will be selected starting from mid-October to the end of November 2016, with the initial cohort to begin in January 2017. Click here to see more information.

Taiwanese AI and deep learning platform Viscovery raises $10M

Viscovery, a Taiwan-based visual analytics company, has raised US$10 million in a round led by China Development Industrial Bank, with the participation from GD1 Fund, H&Q Asia Pacific, and iStart. The funding will be used to invest in research and development talent, as well as to expand its global market.

Alibaba is seeking US$1B to grow its local services platform Koubei

Alibaba is reportedly seeking for US$1 billion to fuel Koubei, its local service platform. Koubei is designed to be a hub for Alibaba's O2O (online-to-offline) services, including restaurant booking and travel services. The local services sector in China is expected to hit US$1.17 trillion by 2017.

Singapore's Arcstone Inc. ventures into 3 new markets

Singapore-based Arcstone Inc., a startup that provides data analytics-based solution system for the manufacturing sector, will set up an overseas office in Vietnam next month. The startup has also started its exploration in Indonesia and China.