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5 in 5 minutes - October 27

Hong Kong Startup News Round Up

Hong Kong's TravelTech startup Klook raises US$60M

Klook has raised close to US$60 million in a Series C funding round led by Sequoia China. Goldman Sachs, Matrix Partners and various Asia-based family funds also took part in the funding round. The four rounds of funding boost Klook's total equity funding to US$96.5 million.

The new capital will fuel Klook's global expansion plan as well as its plan for travel technology development.

SuperCharger opens application for its 3rd programme in Hong Kong

SuperCharger, a 12-week FinTech accelerator programme in Asia announced the opening of applications for its 3rd programme in Hong Kong.

SuperCharger will introduce a new Sandbox approach to the 3rd programme, testing similar technologies provided by multiple FinTech companies simultaneously.

Application for the 3rd cohort will be open from October 26, 2017, to January 5, 2018.

Click here to see the full list of Hong Kong accelerator and incubator programmes.

Hong Kong's SenseTime collaborates with Qualcomm Technologies on AI and machine learning 

Hong Kong-based SenseTime announced a collaboration with Qualcomm Technologies on artificial intelligence and machine learning for future mobile and internet of things products.

Through the collaboration, Qualcomm and SenseTime expect to drive the development and usage of on-device AI.

Founded in 2014, SenseTime is one of the world's hottest AI company, it has closed a US$410 million Series B round, currently valued at over US$1.47 billion.

China's AI company iFlytek to set up US$150M fund to build incubators

Chinese artificial intelligence company, iFlytek Co Ltd, announced that it will set up a US$150 million fund with the aim to support software and hardware developers and accelerate the application of AI in consumer electronics, healthcare and other industries.

iFlytek will partner will local governments across China to build incubators to accelerate startup's growth, offering software support, financial guidance, hardware components and an online AI curriculum

naked Hub plans to IPO in Hong Kong

Shanghai-based co-working space operator naked Hub says it plans to IPO in Hong Kong after a new round of fundraising next year.

According to Reuters, naked Hub expects to close its third funding round of up to US$200 million by the end of 2017.

naked Hub has also teamed up with Startup IO for a 3-month pre-accelerator programme. The programme is dedicated to helping non-technical founders to grow from the ground up to becoming investment-ready ventures.

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