Investments

Hong Kong’s Digital Tech Park Cyberport Confirms HKD 14.87M Funding into 4 Excessive-Potential Startups

Hong Kong’s digital expertise park Cyberport confirms that it has invested HKD 14.87 million (appr. $1.92 million) into the operations of 4 of the startups in its community.

The businesses embrace Lynk, Rice Robotics, Sprint Residing and Hex Belief. These investments have been made over the past six months through the agency’s Cyberport Macro Fund (CMF).

The 4 startups buying the funds from the CMF primarily cowl the Fintech and “sensible residing” verticals, together with Rice Robotics which creates autonomous robots at scale; Sprint Residing which helps group co-living through its platform; Hex Belief which presents institutional custodian options for crypto-assets; and Lynk which manages a global knowledgeable platform utilizing Large Knowledge and AI.

As CMF’s first investee in 2017, that is notably Lynk’s second spherical of funding. The brand new funding has introduced in extra co-investments valued at HKD 154 million (appr. $19.92 million), which add as much as HKD 169 million ($21.84 million) in complete funds raised.

Cyberport had established the CMF with an preliminary allocation of HKD 200 million again in August 2016. The CMF was supposed to supply seed to Sequence A stage capital to its startups to allow them to help the event of their merchandise.

In April 2021, an extra HKD 200 million was allotted to the CMF and its funding scope has now been widened to incorporate Sequence B or later-stage funding rounds to be able to help high-potential startups with their ongoing growth.

The CMF has invested roughly HKD 139 million (appr. $17.9 million) into the operations of 19 startups and has introduced in co-investments of greater than HKD 951 million (appr. $122.7 million), bringing the full funds raised to greater than HKD 1 billion (appr. $140.6 million).

Dr. George Lam, Chairman of Cyberport, said:

“The capital injection from Cyberport Macro Fund will additional speed up these start-ups’ growth and entice worldwide buyers, rushing up their enlargement to abroad markets. The injection of $200 million into the Cyberport Macro Fund and extension of its scope to cowl Sequence B or later stage investments will reinforce Cyberport’s help for our startups’ fundraising capabilities and permit us to thrive in our function as a enterprise capital bridging platform.”

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