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5 in 5 minutes - February 17

HK Startup News Round Up

mClinica raised $6.3m to transform global health data

Singapore-based mClinica announced it bagged US$6.3 million in series A funding to expand its global operation. The round is one of the largest financings for a health tech startup in Southeast Asia, according to Tech in Asia data. It was led by Silicon Valley-based Unitus Impact and joined by London-headquartered Global Innovation Fund, MDI Ventures of Indonesia, and US-based Endeavor Catalyst. Existing investors 500 Startups, IMJ Investment Partners, and Kickstart Ventures also put in some cash.

Hologram startup 8i gets first cash out of Baidu’s VR/AR fund

Holograms startup 8i announced US$27 million in series B funding to aid in development of its augmented reality mobile app, launching later this year. Time Warner led the latest funding for the New Zealand-based startup, with the new VC wing of Chinese search engine giant Baidu contributing some of the cash. 8i’s Holo app is currently in testing and it claims to inject virtual characters into the real world via your phone’s camera.

Insurtech startup CXA raised US$25M in Series B round, co-led by Eduardo Saverin and EDBI

CXA Group, a Singapore-headquartered insurance technology startup, has raised US$25 million in Series B investment round, co-led by B Capital Group (co-founded by Facebook Co-founder Eduardo Saverin) and Singapore-based EDBI. CXA helps employers unlock wellness in the workplace without spending more, by converting existing benefits dollars into prevention and disease management.  The round also saw participation from Royal Philips, a diversified health and well-being company, and RGAx, a subsidiary of Reinsurance Group of America. Existing investors, including NSI Ventures and BioVeda Capital, have also joined the round. 

With this, CXA’s total funding raised to date has crossed US$30 million.The latest capital infusion will help CXA to scale its existing platform and operations beyond Singapore and Hong Kong, to include China, India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Taiwan and Thailand.

Unilever just launched its own co-working space in Singapore

Unilever Foundry, the international consumer goods company’s innovation arm, announced the launch of Level3, a new co-working space in Singapore. The 22,000-square-foot space is located at Unilever’s regional headquarters in Singapore’s Mapletree Business City area. Level3 is not only supposed to be a space for startups to park their laptops and base their operations, but also for Unilever teams to visit the space easily and connect with companies and ideas they find interesting.

Flipkart founders, Accel joined medtech startup SigTuple's US$5.8M funding

SigTuple, a Bangalore-based healthcare technology startup, has secured US$5.8 million in Series A funding led by Accel Partners with participation from IDG Ventures, Endiya Partners, and pi Ventures. VH Capital and Axilor Partners and other prominent investors, including Sachin Bansal and Binny Bansal (Co-founders of Flipkart), and Amit Singhal (SVP Engineering, Uber and Ex-SVP, Google Search), have also joined the round. 

SigTuple will use the fresh capital to expand team, bullet-proof the platform and the product for user adoption, followed by commercials, and regulatory clearances for global markets.

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