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5 in 5 minutes - Sep 09th

Hong Kong startup news roundup


Singapore's Glints raises US$2M Series A

A Singaporean startup Glints raised US$2 million in Series A in a round led by Golden Equator Capital and Gobi Partners, with the participation from Wavemaker Partners, Fresco Capital, East Ventures, Singapore Infocomm Investments (IIPL), Pix Vine Capital, and Darius Cheung.

The funding will be used to expand its service and product development.

Lakupon secures US$742K from New Wealth Capital

Indonesia's Lakupon, an O2O daily deals platform, received S$1 million (around US$ 742,000) investment from Singapore's New Wealth Capital in a round led by New Wealth Capital Managing Partner James Tan and Sean Lim.

Snapchat to IPO soon?

According to Inc., Snapchat is in discussion with investment bankers about filing for an IPO between the end of 2016 and early 2017. According to the eMarkter report, the Los Angelas startup captures 31.6 percent of social network users in the United States.

India's Reliance Industries Limited launches a US$750M fund

According to e27, Reliance Industries Limited set up an INR 5,000 VC fund to invest in startups in areas like agriculture, education, health, rural livelihood, and e-commerce.

China’s mobile gaming revenue will hit $8.3 billion in 2017

Earlier this year, the Chinese government has announced new rules that require mobile games launched in China to be pre-approved before making their appearance on the Chinese app store. Despite the strict regulation, according to Niko's research, mobile gaming revenues in China will grow 28 percent this year, and continue to grow in 2017, reaching US$8.3 billion.

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