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Hong Kong Startup News Round Up - 3 Mar 2019

5 in 5 Minutes

Animoca Brands subsidiary OliveX secures US$1 million

Animoca Brands Corporation Ltd’s subsidiary OliveX (HK) Limited has secured US$1 million in funding from strategic investors including Alabaster and Antanas Guoga. The funding will advance OliveX’s body motion AI initiatives and a number of additional opportunities in the wellness space, including potentially deploying the capital for app acquisitions.

OliveX was launched in March 2018 and it develops and publishes products that leverage artificial intelligence (AI) and gamification to improve users’ health and fitness. The global mobile health market had an estimated valued of US$24.2 billion in 2017 and is forecast to grow at a compounded annual growth rate (CAGR) of 26.1% reaching US$152.6 billion by 2026.

China voiceprint recognition startup wins backing from HK fund

Shenzhen-based VoiceAI Technologies, a startup that provides voiceprint recognition technology and intelligent voice solutions, has completed a pre-A series funding round with the backing of a Hong Kong venture fund.

The pre-A round, whose scale is said to be in the 10 million yuan level, has been led by Hong Kong X Technology Fund, according to Chinese tech news platform Other investors include Brizan Ventures. The actual amount raised is not known.

Established in 2016, VoiceAI currently focuses on four core technologies: voiceprint recognition, automatic speech recognition, voice signal processing, and voice application. It offers services to companies and government agencies, both domestically and internationally, in areas covering the financial, insurance, judiciary and electricity sectors.ho

Hong Kong Cyberport signs MoU with InnoSpace (Thailand) to Strengthen Cooperation in Support of Start-ups

The Hong Kong Cyberport (Cyberport) and the InnoSpace (Thailand) have concluded a memorandum of understanding (MOU) to strengthen bilateral cooperation in supporting the growth of start-ups and their expansion into overseas markets. The signing ceremony was witnessed by Hong Kong Chief Executive Carrie Lam and Thai Deputy Prime Minister Somkid Jatusripitak.

Under the MOU, the two parties will develop a collaborative framework of innovation and start-up development in the scope of knowledge partner between the start-up ecosystem of Thailand and Hong Kong, to encourage a regional community of entrepreneurs through people and resources exchange and the provision of services to the entrepreneurship community, in preparation for their growth into successful businesses and expansion into different markets in other parts of the world.

Blockchain startup ConsenSys opens new office in Hong Kong

Ethereum venture capital studio ConsenSys has announced the opening of its new office in Hong Kong and the appointment of Charles d’Haussy as Director for Strategic Initiatives and market lead for Hong Kong.

According to the official release, ConsenSys Hong Kong will pursue a growth plan which includes the hiring of blockchain solutions architects and software developers.

The company noted that Hong Kong has a vibrant financial services sector and a government supportive of new technology. As part of its efforts to position itself as the top financial hub in APAC, the territory introduced a HK$500 million fund in 2018 to further its financial sector, boosting development in fintech, blockchain and digital assets.

DocDoc secures investment from Cyberport Macro Fund

DOCDOC Pte Ltd, an Asian patient empowerment company, has secured a strategic investment from Cyberport Macro Fund (CMF), and will open a new office in Hong Kong’s Cyberport. The amount of this round was undisclosed.

DocDoc, combining Asia’s largest network of doctors with an AI-powered doctor discovery platform, will use the proceeds from its latest fundraising to expand its market presence in Hong Kong and strengthen its network of doctors in the region.

It will leverage on Cyberport’s facilities, infrastructure and its network to continue to expand its insurance footprint in the region, providing data-driven doctor discovery services to insurance policyholders.

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