Tag Archives: VEN

PR Newswire

Qianhai’s Appeal to Global Investment Further Enhanced

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SHENZHEN, China, Nov. 13, 2023 /PRNewswire/ — The appeal of Qianhai, Shenzhen to global investment is seeing further advancements. During the 2023 Qianhai Global Investment Promotion and Talent Conference, PricewaterhouseCoopers unveiled the Annual Doing Business Blue Paper for Qianhai Cooperation Zone 2023 (the “Blue Paper”), which pointed out Qianhai’s exceptional overall business environment and the significant progress made in the Shenzhen–Hong Kong integration, essentially achieving the goal of “the business environment being globally competitive by 2025” set in the Plan for Comprehensive Deepening Reform and Opening Up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the “Qianhai Plan”).

The Blue Paper highlighted Qianhai’s advancements in various aspects of the business environment. For example, regulations of the Shenzhen-Hong Kong Modern Service Industry Cooperation Zone on investor protection have been introduced to enhance the protection of investors’ rights and interests. The Shenzhen-Hong Kong International Legal Affairs Zone has been created, the Guangdong-Hong Kong-Macao Greater Bay Area International Arbitration Center has been established, and seven Guangdong–Hong Kong–Macao associations of law firms have been founded in the Qianhai Cooperation Zone. The General Administration of Customs has issued 18 measures to facilitate the coordination of inspection and supervision rules between Shenzhen and Hong Kong. This move promotes the port combination of the Guangdong-Hong Kong-Macao Greater Bay Area to “operate as a single port” and implement “one inspection and one certification for all access.” According to the Blue Paper, Qianhai will build a business environment that prioritizes market orientation, the rule of law, and internationalization, moving faster to reach the world-class level.

In order to continuously promote a high-quality business environment, Qianhai empowers talent introduction to furnish intellectual support for global enterprises, according to Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

The Qianhai Administration Bureau, in partnership with Elsevier, the University of Hong Kong (HKU), the China Europe International Business School, and other organizations, has initiated the Global Scientists Sabbatical Leave Program. The program aims at the key areas and strategic directions of global and national innovation development and creates an innovative platform where top scientists can exchange academic views and share frontier information. In this way, it encourages many scientists with global influence and expertise in core technologies in key areas to set up R&D centers in Qianhai and launch industrial transformation for their projects.

Since the release of the Qianhai Plan, Qianhai has increased collaboration with Hong Kong’s higher education institutions to establish new R&D facilities and other international talent vehicles and platforms in various forms in the Qianhai Cooperation Zone.

Meanwhile, Qianhai has released In Qianhai, a one-stop website for comprehensive talent services, which provides internationalized services throughout the ecosystem and chain for talented individuals relocating to China. It offers scenario-based online service functions for employment, entrepreneurship, living, and learning support, among other modules.

Furthermore, to provide global enterprises with a larger development platform, Qianhai has expanded its original Six Agglomerations (venture capital, natural gas trade, financial leasing, cross-border e-commerce, tax-related services, and high-end thinktanks) and launched the New Six Agglomerations: artificial intelligence, supply chains, integrated circuits, offshore engineering equipment, shipping services, and international consulting. Together, they create a new “6+6” spatial pattern of industrial agglomerations.

Analysts said that the multi-dimensional support will bring Qianhai’s business environment to a higher level and make Qianhai more appealing to global enterprises.

Source: Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone

PR Newswire

ROLLER raises US$50 million in growth capital from Insight Partners to help leisure and attractions venues deliver exceptional guest experiences

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MELBOURNE, Australia, Nov. 10, 2023 /PRNewswire/ — ROLLER, an all-in-one, cloud-based venue management software solution built for attraction businesses, today announced their latest funding round of US$50 million led by global software investor, Insight Partners. This latest funding round will provide additional resources and capacity to invest into ROLLER’S platform and services, ultimately helping the company’s customers to grow through delivering exceptional guest experiences.

ROLLER is a complete software platform for modern attractions and leisure venues. From humble origins, ROLLER is now a truly global business with over 1,500 leisure and attractions venues using its platform across 30 countries. Their innovative products include; Ticketing, Point-of-Sale, Integrated Payments, CRM, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. The business has also achieved more than 5X times revenue growth over the last 3 years and has done so in a capital efficient manner.

Luke Finn, ROLLER’s Co-founder and CEO said, “We are thrilled to partner with the team at Insight Partners and welcome Rachel Geller to ROLLER’s Board. This is an incredible moment for the business, our phenomenal team and our amazing customers around the world. Whilst we have come so far, over more than a decade since starting the business, this is only the beginning. We are more excited than ever to accelerate our investment in helping our customers to grow and deliver amazing experiences for their guests.”

Rachel Geller, Managing Director at Insight Partners added, “ROLLER has built an impressive business that is positioned to become a global category leader. The company’s genuine obsession and dedication with delivering real value to its customers is a hallmark of all truly great businesses. We are excited to be partnering with Luke, Mark and the ROLLER team as they grow and scale up.”

Mark Finn, ROLLER’s Co-founder and CFO said, “From day 1, we have been focused on delivering solutions that have a real impact on our customers’ businesses, and with the additional support of Insight Partners, we will be able to accelerate innovation and expand our global footprint. Their extensive experience in helping to scale world-class businesses will be invaluable as we embark on this next phase of our journey.”

Noting the involvement of earlier investors and advisors on the transaction, Luke and Mark wished to “thank Acadian Software who continue to be key partners for us, as well as RBC Capital Markets and SBA Law.” The close of the round is subject to approval by Australia’s Foreign Investment Review Board.

About ROLLER

ROLLER’s vision is to help create experiences that bring joy and happiness to the world. They aim to achieve this by building technology for leisure and attraction venues that helps them deliver amazing experiences for their guests. ROLLER is a complete software platform for the modern attraction or leisure venue. Their innovative products include: Ticketing, Point-of-Sale, Integrated Payments, CRM, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more. To learn more, visit roller.software.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

PR Newswire

CrossFund Raises Additional $1.5M in Funding at a $47M Valuation, Establishes Itself as Leading Investment Gateway to the Emerging World

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SINGAPORE, Oct. 9, 2023 /PRNewswire/ — Fintech startup, CrossFund, has raised its fourth funding round in two years from family offices in MENA and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels. Founded in 2021 by Ben Cardarelli and Davide Cali, the company has quickly become the equity financing tool of choice for startups in SEA and EMEA with over $40M raised across 80 investments, 15,000 accredited investors, and its first exit to a NASDAQ-listed company. It has also become recognized as a platform for governments to foster innovation and attract FDI through hi-tech startups.

“Having spent nearly 10 years in Asia, we quickly built a strong base of investors and startups here,” says Ben. “These markets we’re in – like Indonesia, India, Vietnam, and Philippines – have large populations, a young, tech-savvy workforce, low labor costs, and an emerging middle class. Our vision has always been to invest early in founders and give people access to valuable startup equity in the economies of the future.”

Ho Chi Minh has become CrossFund‘s strategic base, with the team gaining exclusive access to the most promising startups in Vietnam and SEA. The chance to own equity in international startups with as little as US$5,000, no carry, limited fees, and mentor founders is a value proposition that has resonated with investors.

CrossFund‘s portfolio has grown over 400% in two years and includes an exit, with Edugo’s acquisition. CrossFund‘s portfolio includes high-performers like Clever (APAC), Vulcan (Vietnam), Lipa Later (Kenya), Styched (India), beU (Ethiopia), and Swag Kicks (Pakistan), some of which are raising Series B and backed by leading investors like SOSV, Goodwater, VECTR, i2i, YOLO, YCombinator, and Techstars.

CrossFund‘s success is largely attributed to its use of AI in the vetting, fundraising process, and its Web3 integrations. CrossFund is able to leverage data to rapidly match investors with startups based on sector, stage, geography, areas of expertise, and other granular factors.

“Venture capital is very conservative and traditionally low tech. My background spans over 25 years in IT and I started working with AI in 2002. Our vision was always to leverage technology to disrupt the industry.” says Davide. “The convergence of fundraising with hi-tech is what allows us to scale quickly across different emerging markets.”

With US giants like AngelList, OurCrowd, Republic, and StartEngine having grown into unicorns, backed by VCs like Tiger, SoftBank, and Valor, CrossFund sees similar growth potential in large, emerging markets. US incumbents crave international expansion and are gazing East, seen in Republic’s acquisition of Seedrs and StartEngine’s acquisition of SeedInvest.

“We believe in the rise of Asia and MENA as beacons of innovation,” begins Ben. “Singapore, HK, UAE, and KSA are powerful investment hubs for us. We are leading this vast transition of wealth towards the emerging world and are only at the beginning with what we can accomplish.”

PR Newswire

StoreConnect Raises $9M in Seed Round with Lead Investor Bellini Capital: “Time to Revolutionize E-Commerce for SMBs”

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While the global e-commerce industry is on track to generate $6.3 trillion in 2023 (1), SMBs are struggling to compete. StoreConnect will empower over one million global small businesses by liberating them from the challenges of complex SaaS solutions and overwhelming plugin options, targeting a total addressable market (TAM) of over $10 billion. The newfound freedom will enable SMBs to establish unprecedented connections with their customers.

SYDNEY, Aug. 21, 2023 /PRNewswire/ — The e-commerce industry has long been divided into two camps: intricate setups demanding external assistance and substantial financial investments, or deceptively simplistic “plug-and-play” options, like a well-known platform that lure businesses with their initial ease but ultimately morph into unreliable “plug-and-pray” solutions. Mikel Lindsaar, the visionary CEO behind StoreConnect, a trailblazing force in the e-commerce industry, has successfully secured $9 million in a seed round led by Bellini Capital. This investment is poised to fuel StoreConnect’s mission of addressing the prevailing challenges in the e-commerce landscape, for which Lindsaar calls out several currently impeding the growth and prosperity of small and medium-sized businesses (SMBs):

  • SMBs struggle to sustain growth and longevity, with a shocking 34% of online stores vanishing within a year, with average lifespans dwindling to a mere 143 days. (2)
  • The overwhelming number of apps [plugins] available in the marketplace forces SMBs into an arduous evaluation process to find the right fit (Tidio.com). Time-consuming selection becomes an added burden, not to mention slowing page loads.
  • To further compound the problem, adding just six customer-facing apps can inflate load times significantly. (3) This drastic slowdown sabotages user experience and sales conversions. Pages taking over six seconds to load lose half of their visitors, crippling traffic and revenue generation, according to SEO expert Neil Patel. (4) Swift page speed is paramount for customer engagement and business success.
  • Having to “balance” functionality and performance, SMBs are advised to limit apps to a manageable number (aka 25!!) for a comprehensive online store (kubixmedia.co.uk). And finding the right apps out of the thousands of numerous plugins available is a time sink that no business owner can afford.

“These alarming statistics highlight the uphill battle SMBs face within the current ecosystem,” explains Lindsaar, who has previously successfully built and sold four SaaS companies. “I wanted to develop a solution that enables growth and equips ‘Davids’ to compete with ‘Goliaths,'” added Mikel.

A New Category: Customer CommerceTM

The importance of this funding round extends beyond StoreConnect’s dedication to simplifying e-commerce fractured complexities through its fast and comprehensive all-in-one solution. It also lies in StoreConnect’s ability to eliminate major barriers, allowing SMBs to connect with millions more customers, thereby leveling the playing field in the eCommerce arena.

Customer Commerce is a revolutionary, user-driven approach that empowers small and medium-sized businesses (SMBs) to forge connections with a brand-new range of customers that were previously out of reach.

This revolutionizes their interactions and accelerates transactions opening up new avenues of growth, profitability, and scalability, all at an affordable price tag. By embracing this, SMBs have seen unprecedented opportunities for expansion and success across all avenues of online revenue.

Built on the world-leading CRM platform, the company’s innovative approach has already garnered the support of over 60 Salesforce Solution Integration partners in just 24 months—and is on an impressive run rate of $50 million by 2028.

Lead investor, Arnie Bellini, brings a wealth of expertise to the table. As the co-founder and former CEO of ConnectWise, Bellini is renowned for launching the industry’s most widely used IT-managed services platform. Presently serving as the managing partner of Bellini Capital, an investment firm based in the Tampa area, Bellini declares that existing e-commerce solutions belong to the bygone era of 2005. Undeterred by the limitations of the past, he firmly places his faith in StoreConnect’s transformative capabilities to reshape the e-commerce landscape specifically tailored for SMBs. “StoreConnect aims to revolutionize how small businesses engage in online commerce, paving the way for a brighter and more prosperous future.”

The raised funds will be utilized to expand StoreConnect’s global reach by hiring a dynamic sales team, advancing technology to enhance customer experience, and expanding its partner network, which includes Salesforce solution integration partners.

StoreConnect is poised to solidify its position as the dominant player in the small business e-commerce ecosystem.

About StoreConnect:
Mikel Lindsaar is the CEO and Founder of StoreConnect, a Salesforce Partner Innovation Award Recipient.  Mikel is a serial technology entrepreneur having successfully built and sold four SaaS companies within the last decade. StoreConnect has one goal: to help small and medium-sized businesses become scalable Customer Companies powered by Salesforce. Clients achieve this daily by breaking free of the shackles of what Mikel calls “Plugin Purgatory and SaaS Hell.” StoreConnect clients don’t need multiple SaaS systems connected by plugins to manage their online, in-store POS and in-person Customer Commerce business systems. Many of today’s eCommerce solutions are designed to get up and running quickly and inevitably hit a brick wall of scalability and extensibility as companies grow.  That’s why StoreConnect is built on the world’s CRM, so its customers will never need to replatform no matter how fast they grow in size, product offerings or regions. Global growth now has no barriers for any SMB. Being built on Salesforce allows StoreConnect customers to update their websites, funnels and content in real time, providing an unparalleled competitive advantage. StoreConnect is Time. Well Spent. Visit https://getStoreConnect.com/

Sources:

  1. Dunham, Emma, et al. “Ecommerce Statistics to Get You Ahead in 2023.” Dash, 27 Mar. 2023, dash.app/blog/ecommerce-statistics#:~:text=In%202023%2C%20the%20ecommerce%20industry,
    to%20China%20and%20the%20USA.&text=The%20ecommerce%20market%20is%20set,the%20end%20of%20this%20year.
  2. Hannay, Chris, et al. “Shopify Has a Growing Problem with Customer Retention, Globe Data Study Shows.” The Globe and Mail, 22 Oct. 2022, theglobeandmail.com/business/article-shopify-customer-retention-problem/.
  3. Developer, Author: Burak Shopify, et al. “Shopify Performance Case Study – How Apps Affect Speed ” Speed Boostr.” Speed Boostr, 13 Mar. 2020, speedboostr.com/how-apps-affect-load-speed/
  4. Patel, Neil. “How Loading Time Affects Your Bottom Line.” Neil Patel, 31 May 2021, neilpatel.com/blog/loading-time/.

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PR Newswire

Join Taipei City’s Thriving Health Industry: Registration for “Win A Greater Health” Pitch Contest Starts Now!

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TAIPEI, July 18, 2023 /PRNewswire/ — The Taipei City Government’s Department of Economic Development is taking proactive steps to attract international startups and foster collaboration with local businesses through its “Talent Exchange Program”. In line with this initiative, they have established the “Taipei Entrepreneurs Hub (TEH)” to cultivate a vibrant international community of entrepreneurs in the heart of Taipei. In 2023, the spotlight is on the health industry, and the department is delighted to announce the forthcoming “Win A Greater Health” international online startup pitch contest. Registration is now open until September 15, 2023, Taipei time (UTC+8). International teams specializing in digital health fields are welcomed to participate.

The department places great importance on attracting international startup teams with key technologies and research capabilities to facilitate the cooperative transformation and upgrade of local industries. This has always been a crucial industrial goal for the city government. Additionally, harnessing the power of innovation and entrepreneurship to drive city diplomacy is a significant driving force. Therefore, in recent years, the department has actively connected global startup ecosystem resources through TEH, organizing various networking events across different industries and time zones, creating the most resource-rich and comprehensive entrepreneurial community. The ultimate goal is to welcome international entrepreneurs from around the world to establish their presence in Taipei.

This year, the international startup pitch contest, in collaboration with TEH, the Taiwan Digital Health Industry Development Association, BE Health Ventures, and the Taipei Medical University BioMed Accelerator, welcomes international startup teams to participate. The competition encourages teams to develop Taiwan market expansion plans with a focus on implementing their goals in Taipei City. The winning teams will not only receive one international round-trip ticket from anywhere to Taipei to attend the Demo Day presentation but also enjoy customized matchmaking sessions and business itineraries during their stay in Taipei. Selected teams will have diverse opportunities for technological connections, collaborations, and interactions with businesses and venture capital firms in Taipei.

In addition to organizing the competition, the city government has established StartUp@Taipei office and Inves Taipei office to support startups from around the world in settling in Taipei. The ultimate goal is to make Taipei City a partner for international talents and collaborate to develop more business opportunities.

For more information and registration details for the online competition, you can visit the official Facebook page or LinkedIn page, or contact the organizing company Everiii Consulting CO., Ltd. at (+886 2) 33435456 ext. 806, Ms. Kuo.

PR Newswire

TDK Ventures expands into Europe; will use new $150-million Fund EX1 to invest in clean-tech startups

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  • TDK Ventures selected London for its first European office
  • New $150-million (USD) multi limited-partner Fund EX1 (EX = energy transformation) will focus on both European and North American-based electrification and decarbonization startups
  • TDK Ventures’ mission and values to invest in climate tech startups align with Europe’s ambitious goals to reduce greenhouse gas emissions by 50% and reach net-zero emissions by 2050

SAN JOSE, Calif., June 19, 2023 /PRNewswire/ — TDK Corporation (TSE: 6762) announced today that subsidiary TDK Ventures Inc., its corporate venture capital arm, is expanding into the European market with plans to invest in startups in the region. The company selected London as the site of its first outpost for its ambitious quest to nurture energy transition, electrification, and decarbonization throughout Europe. At the same time, TDK Ventures will initiate its $150-million (USD) multi-LP Fund EX1. The fund will focus on both European and North American-based energy-transformation startups in Seed and Series A stages.

After thorough research, TDK Ventures chose London due to its deep venture-capital density as well as startups and investment funds that focus on the environment. The company also was impressed with the city’s overall venture innovation ecosystem that comprises entrepreneurially minded scientific talent, a world-class university system, top-tier climate investors (both early and growth), centralized location, and access to strong public markets. 

“TDK Ventures has earned a reputation for successfully investing in and supporting highly innovative startups featuring incredible disruptive technologies in the realm of electrification and decarbonization,” stated Lord Dominic Johnson, UK Minister of State in the Department for Business and Trade, who is a veteran of over 25 years in the financial-services industry. “I wish them much success in their efforts in combatting the many climate issues that face us. I am thoroughly delighted London was chosen as the site for their first European office and I look forward to their participation in the European market and enthusiastically welcome them to the city of London.”

“Globally, London ranks third in climate-tech funding, and third in the number of climate and energy-tech investors,” explained Nicolas Sauvage, President, TDK Ventures. “The latter ranking rises to No. 2 in the world when all of the UK is included. It also has corporate-friendly governance as well as familiar taxation, board structures, and a legal environment for venture-backed startups to find appropriate exits. This, coupled with the presence of many large-scale, late-stage, and growth-equity funds led us to decide on London as our first outpost in Europe.”

Sauvage continued that “TDK Ventures is very thankful for and appreciative of the strong support we have received from the Venture Capital Unit of the UK Government Department for Business and Trade over recent years.” 

The recent breakthroughs in materials science and advanced manufacturing in the European Union have created a watershed era for electrification and decarbonization projects. TDK Ventures has a history of helping entrepreneurial organizations in this space access the resources they need to scale production and commercialize their products as key components of global carbon neutrality.

“I am delighted that TDK Ventures has chosen London as the site of its first European office,” said Natalie Black, His Majesty’s Trade Commissioner for Asia Pacific. “Including UK companies as potential recipients in its new $150-million Fund EX1 is a testament to the strength of the UK’s tech sector, which raised $31.1 billion in VC funding last year, making the UK the third largest market in the world for tech investment. I look forward to seeing TDK Ventures thrive in the UK in supporting our efforts to tackle climate change.”

To learn more about TDK Ventures, interested startups or investment partners should visit www.tdk-ventures.com or reach out at contact@tdk-ventures.com. 

About TDK Corporate

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately “Attracting Tomorrow.” It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK’s comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2023, TDK posted total sales of USD 16.1 billion and employed about 103,000 people worldwide.

About TDK Ventures

TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as health and wellness, next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.

You can download this text and associated images from http://www.tdk-ventures.com/tdk-ventures-expands-into-Europe-will-use-new-150-million-Fund-EX1-to-invest-in-clean-tech-startups/

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PR Newswire

Pando raises $30 million amidst funding winter, to future-proof enterprise supply chains

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Led by Iron Pillar, the round saw participation from Uncorrelated Ventures, Nexus Venture Partners, Chiratae Ventures, Next47 and prominent angel investors.

SAN JOSE, Calif. and CHENNAI, India, May 4, 2023 /PRNewswire/ — Supply chain software leader, Pando, today announced its Series B funding of $30 million, bringing total capital raised so far, to $45 million. The round was led by marquee Silicon Valley investors Iron Pillar and Uncorrelated Ventures, with participation from existing investors Nexus Venture Partners, Chiratae Ventures and Next47. Several prominent American CEOs and angel investors also participated in this round including David Dorman, Chairman of CVS Health and Director on the Boards of Dell and Paypal, Tom Noonan, Director on the Boards of New York Stock Exchange and SalesLoft, Scott Kirk of Bain Capital, Paul Brown of Dunkin’, Baskin-Robbins and Neiman Marcus, Nick Mehta of Gainsight, and Amar Goel of Pubmatic. The fresh funds will be used to drive Pando’s growth across geographies and industries.

Abhijeet Manohar (left) & Nitin Jayakrishnan (right), co-founders of Pando at the company’s APAC HQ
Abhijeet Manohar (left) & Nitin Jayakrishnan (right), co-founders of Pando at the company’s APAC HQ

In the last few years, supply chain disruptions have peaked, hindering business growth and consumers’ access to quality products. According to a recent Deloitte survey, over 70% of manufacturing executives reported that their companies have been impacted by supply chain disruptions in the past year, with 90% of those companies experiencing increased costs and declining productivity. With global enterprises investing in supply chain technology to improve agility, efficiency and resilience, the logistics tech market is estimated to grow to $25 billion by 2025. Pando is well-positioned to ride this growth wave, and drive supply chain agility for the 2030 economy.

Investors see Pando’s platform as critical in the modern supply chain toolkit to bring innovation and resilience to the industry. Mohanjit Jolly, Partner at Iron Pillar who led the Series B, believes that Pando is uniquely positioned to be a global leader in this growing category. “The Logistics Tech market is ripe for disruption – there is high demand caused by volatility, legacy competition that is trying to catch up and a trend towards bundling point solutions. Pando addresses the problem holistically and, with its world-class talent in India and the US, takes a global view to IP-led product development. Their growth with multiple Fortune 500 companies is testimony to the quality of the product and management team, but their focus on building a large long-term business is what got us excited to partner with Abhijeet and Nitin. Iron Pillar is eager to leverage its global network of customers, partners, strategic capital and more to help accelerate Pando’s journey.”

Pando’s recently launched Fulfillment Cloud is a ‘single pane of glass’ to streamline the end-to-end order-to-fulfillment process of manufacturers, distributors, retailers, and 3PLs. This AI-powered, no-code platform for collaborative fulfillment has proven itself globally, improving service levels, and reducing carbon footprint and costs for several Fortune 500 enterprises such as Johnson & Johnson, Procter & Gamble, Nestle, Nivea, Accuride, Danaher, Perfetti Van Melle, and BP Castrol.

“Pando’s Fulfillment Cloud has been proven across several industries in the last few years, with strong revenue growth, marquee customer logos, high CSATs, and a fully built-out enterprise-grade platform. Pando is now expanding into new industries and geographies, especially the US.” said Abhishek Sharma, Managing Director at Nexus Venture Partners who seeded the company in 2018.

Parvesh Ghai, CRO – Asia Pacific, agrees, “Since Pando’s Series A in 2020, our revenue has grown 8x, and our customer base, 5x. We’re scaling our North America and Global business with marquee customer wins and a network of strong partners.” John Zimmerman, CRO – North America & Europe, adds, “Many large companies in North America and Europe are consolidating their supply chain technology from siloed point solutions to unified platforms, and in-sourcing their logistics from 3PLs. Pando’s solution is timely – its end-to-end capabilities and quantifiable value-driven success stories with marquee global brands is driving significant traction in the US market, where supply chain leaders are clamouring for change.”

“Most of the brands we love and live with are weighed down by legacy logistics tools that make their products less affordable, accessible and eco-friendly. Pando’s platform allows these brands to automate manual processes, modernize legacy systems and plug the gaps between tools without multi-year transformations, delivering change here and now,” said Nitin Jayakrishnan, Pando’s CEO.

Pando’s CTO, Abhijeet Manohar, said, “Whether we take HRMS, CRM, ITSM or SCM – ultimately, enterprise processes are data problems. Enterprises are struggling to piece together a comprehensive view of their supply chain. Just like how the world evolved from legacy applications to new-age cloud technology in these categories, supply chain software is evolving towards Pando.”

About Pando: 

Pando is a global leader in supply chain technology with its AI-powered, no-code Fulfillment Cloud platform. Pando’s Fulfillment Cloud provides manufacturers, retailers, and 3PLs with a single pane of glass to streamline the end-to-end order-to-fulfillment process to improve service levels and reduce carbon footprint and costs. As a partner of choice for Fortune 500 enterprises globally, with a presence across APAC and the US, Pando is recognized by Technology Pioneer by the World Economic Forum (WEF), and as one of the fastest-growing technology companies by Deloitte.

If you are embarking on digital transformation for your logistics operations, reach out to Pando at https://www.pando.ai.

PR Newswire

Lotus Technology Enters into Agreements for $122M with Strategic Partners and Business Partners

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NEW YORK and SINGAPORE, April 28, 2023 /PRNewswire/ — Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading global luxury electric vehicle maker, announced today that it has entered into agreements with strategic partners and business partners for a total investment amount of approximately $122 million, which are subject to customary terms and conditions (including regulatory approvals) included in the definitive documentation. The financing marks a robust start to the Company’s ongoing fundraising and a major milestone in its planned business combination with L Catterton Asia Acquisition Corp (“LCAA”) (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm.

The financing demonstrates the strength of market confidence in Lotus Tech as the Company progresses to complete the previously announced business combination, which is expected to close later this year. The funds expected to be provided by the financing are intended to be used to further advance Lotus Tech’s development of next-generation automobility technologies, continue the Company’s expansion of its global distribution network, and promote product innovation.

The global luxury electric vehicle market is expected to expand at a compound annual growth rate of 35% between 2021 and 2031, reaching over 1.9 million units by the end of that period.[1] “As an early mover in the market, Lotus Tech is well-positioned to address unfilled demand and capitalize on the segment’s rapid growth. Our strategic partners are eager to contribute to our development with additional capital,” said Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech.

“We are encouraged by this support from our strategic partners as they continue to invest and demonstrate confidence in our performance and growth potential,” added Mr. Feng. “Beyond providing capital, our strategic partners’ extensive global relationships and deep industry expertise will help accelerate our business and technology development and product roll-out. We look forward to further executing our strategy and steering the industry towards a more sustainable future.”

[1] According to research by Oliver Wyman, LLC.

Overview of the Transactions Contemplated by the Business Combination

On January 31, 2023, Lotus Tech and L Catterton Asia Acquisition Corp announced the signing of a definitive agreement related to a proposed business combination that would result in Lotus Tech becoming a public company. Upon completion of the business combination, the combined company is expected to retain Lotus Tech’s name as “Lotus Technology Inc.” and its ordinary shares are expected to be listed on the Nasdaq under the ticker symbol “LOT.”

About Lotus Technology

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles including SUVs and sedans with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.

About L Catterton Asia Acquisition Corp 

L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an initial target business in any industry or sector, it has focused its search on high-growth, consumer technology sectors across Asia. For more information about L Catterton Asia Acquisition Corp, please visit www.lcaac.com.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.

Forward-Looking Statements

This press release (the “Press Release”) contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus Tech and LCAA. All statements other than statements of historical fact contained in this Press Release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by LCAA and its management, and Lotus Tech and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to the proposed Business Combination between LCAA, Lotus Tech and the other parties thereto (the “Business Combination”); (2) the outcome of any legal proceedings that may be instituted against LCAA, the Combined Company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the amount of redemption requests made by LCAA public shareholders and the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of LCAA, to obtain financing to complete the Business Combination or to satisfy other conditions to closing and; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Combined Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and Lotus Tech’s international operations; (10) the possibility that Lotus Tech or the Combined Company may be adversely affected by other economic, business, and/or competitive factors; (11) Lotus Tech’s estimates of expenses and profitability; (12) Lotus Tech’s ability to maintain agreements or partnerships with its strategic partner Geely Holding and to develop new agreements or partnerships; (13) Lotus Tech’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) Lotus Tech’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) Lotus Tech’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture, launch and financing of Lotus Tech’s vehicles and Lotus Tech’s reliance on a limited number of vehicle models to generate revenues; (17) Lotus Tech’s ability to continuously and rapidly innovate, develop and market new products; (18) risks related to future market adoption of Lotus Tech’s offerings; (19) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) Lotus Tech’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Lotus Tech by its partners in order for Lotus Tech to be able to increase its vehicle production capacities; (21) risks related to Lotus Tech’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Lotus Tech’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on LCAA, Lotus Tech, Lotus Tech’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in LCAA’s final prospectus relating to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission (the “SEC”) by LCAA or Lotus Tech, including the Registration/Proxy Statement (as defined below). There may be additional risks that neither LCAA nor Lotus Tech presently know or that LCAA or Lotus Tech currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking statements in this Press Release represent the views of LCAA and Lotus Tech as of the date they are made. While LCAA and Lotus Tech may update these forward-looking statements in the future, LCAA and Lotus Tech specifically disclaim any obligation to do so, except to the extent required by applicable law. You should not place undue reliance on forward-looking statements.

Projections

Lotus Tech’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Press Release, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this Press Release. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. While such information and projections are necessarily speculative, LCAA and Lotus Tech believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Lotus Tech or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this Press Release should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.

Actual results may differ as a result of the completion of Lotus Tech’s financial reporting period closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the period is finalized. As a result, these estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. Neither Lotus Tech’s nor LCAA’s independent registered accounting firm has audited, reviewed or compiled, examined or performed any procedures with respect to the preliminary results, nor have they expressed any opinion or any other form of assurance on the preliminary financial information.

Additional Information

In connection with the proposed Business Combination, (i) Lotus Tech is expected to file with the SEC a registration statement on Form F-4 containing a preliminary proxy statement of LCAA and a preliminary prospectus (the “Registration/Proxy Statement”), and (ii) LCAA will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its shareholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of LCAA shareholders to be held to approve the proposed Business Combination. This Press Release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination.

Before making any voting or other investment decisions, securityholders of LCAA and other interested persons are advised to read, when available, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about LCAA, Lotus Tech and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of LCAA as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

LCAA and Lotus Tech, and certain of their directors and executive officers, may be deemed participants in the solicitation of proxies from LCAA’s shareholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in LCAA is set forth in LCAA’s filings with the SEC (including LCAA’s final prospectus related to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021), and are available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo. Additional information regarding the interests of such participants and other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the proposed Business Combination will be contained in the Registration/Proxy Statement for the proposed Business Combination when available.

No Offer and Non-Solicitation

This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of LCAA or Lotus Tech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Contact Information

For inquiries regarding Lotus Tech

Demi Zhang
ir@group-lotus.com

Brunswick Group
Lotustechmedia@brunswickgroup.com

For inquiries regarding LCAA and/or L Catterton
Julie Hamilton (U.S.)
media@lcatterton.com
+1 203 742 5185

Bob Ong / Bonnie Gan (Asia)
bob.ong@lcatterton.com / bonnie.gan@lcatterton.com
+65 6672 7619 / +86 10 8555 1807

Source: Lotus Technology Inc.

PR Newswire

Asia’s EV Race: Selex Motors raises $3 million from ADB Ventures, Schneider Electric Energy Access Asia and others

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Accelerating the fastest growing EV ASEAN nation to effectively reduce carbon footprint of the last mile transportation segment.

SINGAPORE, April 24, 2023 /PRNewswire/ — Hanoi-based Selex Smart Electric Vehicles JSC (Selex Motors) is making waves in the electric vehicle (EV) and battery pack manufacturing industry in Vietnam and is currently in a US$ 3 million convertible note investment round with ADB Ventures – Asian Development Banks’s venture arm, Schneider Electric Energy Access Asia, Touchstone Partners, and Sopoong Ventures.

Through this round, the fund will be utilized to expand production lines and support vehicle sales while setting up battery-swapping systems in key cities in Vietnam, solidifying Selex’s position as the nation’s first and largest shared battery-swapping network provider.

“The unwavering support reaffirms our common goal of combating climate change and provides an important boost to our business. Through this round’s investment, we are looking forward to establishing a strong foothold in Vietnam and building a foundation for regional expansion” said Selex Motors Chief Executive Officer, Dr. Nguyen H.P. Nguyen.

Selex’s flagship electric two-wheeler (E2W) vehicles are designed for high-usage applications with its own battery-swapping solution allowing users to replenish the energy for up to 150 km in under two minutes, a key enabler for EV adoption in commercial activities. Furthermore, this model has a 50% load capacity improvement compared to existing alternatives, and the electric powertrain reduces maintenance and fuel costs by over 30%, consequently lowering overall logistics costs for corporate fleets and increasing the net income of deliverers.

“By displacing gasoline-based 2-wheelers with E2Ws in last-mile logistics fleets, Selex’s growth will naturally mitigate carbon emissions which our sources estimate up to 50,000 tons by 2025,” he added.

Selex is a first of its kind to develop from scratch an optimal electric ecosystem for last-mile transportation to reduce the operation costs and impact of the logistics industry. The company also holds a significant Intellectual Property (IP) portfolio consisting of 10 patents, 5 designs, and 4 trademarks — incubated at its in-house research and development facility.

“The electrification of road transport will have a profound and transformative impact on the automotive manufacturing and logistics sectors in Southeast Asia. We are proud to be part of Selex’s journey from the very beginning and look forward to them becoming an important regional player in the coming years,” said ADB Ventures Investment Specialist Charles Cole Navarro.

The EV sector is gaining massive traction in Asia and the Pacific with an estimated valuation of over US$ 777 billion in 2027, registering a CAGR of 19.1%, while the Vietnamese market for E2W is the biggest and fastest growing among ASEAN nations and is also the second largest globally. With petrol-powered two-wheelers being one of the largest sources of greenhouse gas emissions in major cities, electrification will greatly benefit high-usage applications such as last-mile transport to minimize carbon footprint.

“We are thrilled to back Selex Motors in this latest round. With Vietnam widely regarded as the center of the motorcycle industry in Asia, we are convinced of the huge impact on decarbonization that Selex creates by bringing cleaner energy into transportation, as well as providing strong financial incentives for corporate partners and riders to make this switch to electric scooters. We are extremely excited to join forces with ADB Ventures, Touchstone, and Sopoong in supporting Vietnam’s EV ecosystem and Selex’s journey for sustainable mobility,” said Gilles Vermot Desroches, President of Schneider Electric Energy Access Asia.

As Selex continues to work towards its mission, Selex invites like-minded corporate partners to join in the effort. For more information, visit www.selex.vn. 

About Selex Motors

Based in Hanoi, Selex Motors is a pioneering startup in electric vehicles in Southeast Asia. The company was co-founded in 2018 by three co-founders, including two Ph.D. graduates in Mechanical Engineering from the University of Michigan in Ann Arbor, who decided to return to their home country to make an impact.  Selex Motors aims to accelerate the transition to green transportation through a proprietary and innovative ecosystem for electric two-wheelers. Selex Motors currently focuses on applying its solution in the fast-growing segments of last-mile transport in Vietnam, with a plan for regional expansion in the near future.

PR Newswire

Alibaba Entrepreneurs Fund/HSBC JUMPSTARTER 2023 Open for Application

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In-person information sessions hosted in GBA and SEA

HONG KONG, April 6, 2023 /PRNewswire/ — Alibaba Entrepreneurs Fund/HSBC JUMPSTARTER 2023 Global Pitch Competition (“JUMPSTARTER 2023”) is now open for application, inviting entries from start-ups worldwide to bring more like-minded organizations together to bolster the growth of innovation and technology globally.



Due to the easing of COVID-19 restrictions, JUMPSTARTER 2023 will again host a series of in-person information sessions, including cities in the Greater Bay Area including Hong Kong, Shenzhen, Guangzhou and Zhuhai, as well as Southeast Asia including Singapore and Vietnam. To encourage more talents and drive the development of innovation in the region, successful entrepreneurs and industry experts will be invited to share their entrepreneurial journeys and challenges as well as to examine the current business climate and growth prospects in the market. So far, the information sessions attracted nearly 1,000 start-ups or those interested in JUMPSTARTER.


Cindy Chow, Executive Director of Alibaba Hong Kong Entrepreneurs Fund (left), said,   

“During the height of COVID-19, we were incredibly inspired to see many start-ups unlock innovative ways to address societal pain points. We want to encourage start-ups in the sixth JUMPSTARTER to address the Sustainable Development Goals of the United Nations. We have added biotech, industry 4.0 and web 3.0 to capture the emerging market trends. JUMPSTARTER aspires to be a platform that supports individuals with entrepreneurial aspirations to accelerate the innovation and technology industry with our partners.”

Frank Fang, General Manager, Head of Commercial Banking, Hong Kong and Macau, HSBC (right), said,

“We are pleased to partner with Alibaba Entrepreneurs Fund for the fifth consecutive year in the JUMPSTARTER Global Pitch Competition, unlocking the potential of promising start-ups around the world. Innovation has emerged as an engine for high-quality and sustainable growth globally. In Hong Kong, our rapid transformation into an international innovation hub and increasing integration with other cities in the Greater Bay Area offer a fertile breeding ground to international start-ups. As a long-term partner of the business community, HSBC will continue to leverage our international network and financing expertise to support high-growth companies and play to our strengths as a super-connector in the start-up ecosystem.”

JUMPSTARTER 2023 Information session held in Hong Kong


During the information session in Hong Kong on March 31, 2023, a panel discussion was hosted by Jason Chen, Chief Operating Officer and Managing Director of Gobi Partners, to explore “Riding the AI wave: How start-ups and Venture Capitalists are navigating the Future of AI”, attended by Patrick Tu, Co-Founder & CEO of Dayta AI; Ivan Lau, Co-Founder & CEO of Pantheon Lab Limited; Miles Wen, Co-Founder & CEO of Fano Labs Limited; and Tim Lee, Partner of Creo Capital.

JUMPSTARTER 2023 Information Session in Singapore


During the information session in Singapore on April 3, 2023, a panel discussion was hosted by Olive Tai, Co-founder & Managing Director of Synagie, to explore “Breaking Borders: How Hong Kong and the Greater Bay Area are unlocking opportunities for Southeast Asia starts”, attended by Atul Babu, Founder & CEO of Dhata Tech; Vincent Chow, Founder & CEO of En-trak (JUMPSTARTER 2017 Winner); and Ivan Goh, CEO of QuantumTX (JUMPSTARTER 2022 Top 10).

Ivan Goh, CEO of QuantumTX said,

“Participating in start-up competitions can offer numerous benefits and opportunities beyond winning a prize. JUMPSTARTER has given QuantumTX a good chance to grow engagement with the Hong Kong and Mainland China market. As a finalist, we were given the exhibition space to present our technology in Hong Kong. With that, QuantumTX gained more credibility that aroused interest in Hong Kong and the GBA. Last year, QuantumTX’s business in Hong Kong and the Greater Bay Area (GBA) grew considerably, making up about 20% to 30% of their top-line.”

Vincent Chow, Founder & CEO of En-trak said,

“Starting a start-up can be a daunting challenge, especially when you do not have an established brand, network or financial backing. Therefore, participating in respected start-up competitions like JUMPSTARTER can be a good starting point to gain credibility and recognition from potential customers. Winning over your first corporate client can ignite a ripple effect, rapidly accelerating the growth of your customer base.”

JUMPSTARTER 2023 information session held in Shenzhen


During the information session in Shenzhen on March 28, 2023, a panel discussion was hosted by Bohan Zheng, Senior Investment Manager of Gobi Partners, to explore “How to Leverage Hong Kong to Seize the Opportunities of Globalization”, attended by Johnny Tang, Chief Operation Officer of Qupital; Yu Tian, Founder and CEO of Shenzhen Smart Supply Chain; and Zhang Shuai, Founder of HALOBLK.

Johnny Tang, COO of Qupital said,

“Hong Kong’s advanced financial system offers extensive support and collaboration opportunities for startups, while also providing reliable measures for corporate financing. As a fintech startup, Qupital’s success greatly depends on the exceptional support of our Hong Kong team in finance and risk management, empowering businesses to achieve a stable and sustainable growth.”

Zhang Shuai, Founder of HALOBLK said,

“Hong Kong offers an expansive platform for global capital, providing startups with abundant prospects for growth and resources. With Hong Kong’s rich background in foreign trade, startups can capitalize on this advantage to export their products to international markets, reach new heights in overseas expansion, attract diverse talent from round the world, customize their products to local markets, and achieve accelerated development.”

JUMPSTARTER 2023 is now open for application. Please visit https://www.jumpstarter.hk/en/  for more details.

About Alibaba Hong Kong Entrepreneurs Fund

Alibaba Hong Kong Entrepreneurs Fund (“AEF”) is a not-for-profit initiative launched by Alibaba Group in 2015. To vitalize the development of innovation and technology, AEF’s mission is to help Hong Kong entrepreneurs and young people realize their dreams and visions for a Hong Kong that is vibrant and engaged regionally and globally. As part of its investment program, AEF provides Hong Kong-based entrepreneurs with investment capital and strategic guidance to help them grow their businesses and penetrate the mainland Chinese and global markets, by utilizing Alibaba’s Ecosystem. For more information, please visit the website: https://www.ent-fund.org/en/

About JUMPSTARTER

JUMPSTARTER is a not-for-profit initiative created by Alibaba Hong Kong Entrepreneurs Fund that provides a platform for all entrepreneurs and young people to jump start their dreams in Hong Kong. It is a first-of-its-kind start-up event focused exclusively on showcasing quality start-ups and providing high-impact networking opportunities. Its goal is to build, empower and boost Hong Kong’s start-up ecosystem and entrepreneurship by bringing entrepreneurs, corporations, investors and the public together, helping to transform Hong Kong into a leading hub for global innovation and technology. For more information, please visit the website: https://www.jumpstarter.hk/en/