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Hong Kong Startup News Roundup - 31 May 2021

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Global VCs Brinc & Blue Horizon Jointly Invest US$3M+ In New FoodTech Scaleup Cross-Border Accelerator Program

Asia venture accelerator firm Brinc and European FoodTech venture fund, Blue Horizon Ventures will invest over US$3 million into global foodtech startups through Brinc’s new scaleup program, which aims to help growth-stage companies enter markets throughout Southeast Asia and Greater China, an investment remit that the two parties describe as the “largest cheque size for food tech accelerator programs” to date.

 

Indian logistics giant Delhivery raises $277 million ahead of IPO

Delhivery, India’s largest independent e-commerce logistics startup, has raised $277 million in what is expected to be the final funding round before the firm files for an IPO later this year.

In a regulatory filing, the Gurgaon-headquartered startup disclosed it had raised $277 million in a round led by Boston-headquartered investment firm Fidelity. Singapore’s sovereign wealth fund GIC, Abu Dhabi’s Chimera, and UK’s Baillie Gifford also participated in the new round, a name* of which the startup didn’t specify.

 

Self-driving truck startup Kodiak partnering with SK Group to expand into Asia

Kodiak Robotics, the U.S.-based self-driving truck startup, is partnering with South Korean conglomerate SK to explore the possibility of deploying its autonomous vehicle technology in Asia.

The ultimate aim of the partnership is to sell and distribute Kodiak's self-driving technology in the region. Kodiak will examine how it can use SK's products, components and technology for its autonomous system, including artificial intelligence microprocessors and advanced emergency braking systems. Both companies have also agreed to work together to provide fleet management services for customers in Asia.

 

Mio, a social commerce startup focused on smaller cities and rural areas in Vietnam, raises $1M seed

Vietnam has one of the fastest-growing e-commerce markets in Southeast Asia, but many major platforms still focus on large cities. This means people in smaller cities or rural areas need to deal with longer wait times for deliveries. Social commerce company Mio is taking advantage of that gap by building a reseller network and logistics infrastructure that can offer next-day delivery to tier 2 and 3 cities.

The startup, which currently focuses on fresh groceries and plans to expand into more categories, announced today it has raised $1 million in seed funding. The round was co-led by Venturra Discovery and Golden Gate Ventures. Other participants included iSeed SEA, DoorDash executive Gokul Rajaram and Vidit Aatrey and Sanjeev Barnwal, co-founders of Indian social commerce unicorn Meesho.

 

Atlan raises $16M led by Insight Partners to build a collaboration hub for data-driven teams

The startup — which was founded in India and now has teams across the U.S., Singapore, Philippines and Nigeria — operates an eponymous data stack that brings together diverse data from internal and external sources such as Snowflake and Databricks to one interface and allows teams to collaborate easily. Atlan said on Tuesday it has raised $16 million in its Series A financing round that was led by Insight Partners. 

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