Startup Accelerator Betatron Increases Investment up to US$150K and Opens Applications for Cohort #5

betatron

Betatron recently announced that they’ll be investing up to US$150K into each startup for their next cohort which starts in September 2019. They’re aiming to invest in 8-12 startups with applications closing on 18th July.

Betatron will also be changing the program length – previous Cohorts lasted for four months, however, starting with Cohort #5, they will be condensing the same program into three months.

We spoke with Sam Ameen, Betatron’s Director of Marketing, to learn more about how the Hong Kong-based accelerator program has been evolving over the last couple of years.

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Klook Completes US$425M Series D Funding with New Capital Raise led by Softbank Vision Fund

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Klook announced it has raised US$225M in Series D+ funding. This increases the company’s total Series D funding round to US$425M. The SoftBank Vision Fund led the round with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd. This represents the largest financing in the global travel activities and services industry.

In just four years, Klook has become the most searched travel activities and services company on Google. In the last year, the Hong Kong-based company expanded its global footprint into Australia, Europe and the United States to deliver new, unique and exciting consumer experiences. Klook also entered into major global partnerships with Shangri-La Hotels and Resorts, Asia Pacific’s leading luxury hotel group; and Rail Europe, a leading distributor of European rail products that represents more than 50 railroads throughout Europe.

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Hong Kong’s 4 Fintech Unicorns: Download the Newest Whitepaper on Hong Kong’s FinTech Ecosystem Now!

FINTECH

WHub’s FinTech Whitepaper presents the key findings and facts as well as a comprehensive analysis of the contributing factors in the ecosystem that have solidified Hong Kong’s position as a leading global Financial Hub and its evolution into a competitive FinTech Hub.

Such contributing factors include the strength of its financial sectors, a strong talent pool, Hong Kong’s position as a gateway to regional and Mainland China markets, the regulatory framework, as well as many other variables. Hong Kong has seen extensive activity in its startup ecosystem with an estimated 3,000+ startups.

Specifically, the city now boasts the evolution of 4 homegrown FinTech Unicorns:

  1. AirWallex (raised US$202 million)
  2. BITmex (trading history of over US$34 billion worth of Bitcoin since its launch)
  3. The TNG FinTech Group (raised US$115 million in Series A, the largest series A investment for a FinTech company)
  4. WeLab (raised US$425 million).

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