Report: The True State of Early Stage Funding in Hong Kong

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You may have seen reports floating around on the interwebs on the current state of Hong Kong funding, from ill-advised infographics to strangely sourced global reports.

So we decided to call up James Giancotti of OddUp a new startup that is tracking other startups around the region, and try and put together a proper list of startup funding in Hong Kong by local investors into local companies.

It’s also a good time to check the pulse of the investor ecosystem; after all the noise that big events like RISE and StartMeUp brought to Hong Kong, how, and if, the local investor market has been doing to actually help fund local startups.

This report is looking at the actual public angel and VC groups in Hong Kong. We don’t have data on Family Offices since they keep things private, as do smaller investor syndicates and angels who don’t like to have their names on the internet. Today the HKSAR government released it’s new budget to include startups (take a look at this budget breakdown specifically for the startup sector by Charles Mok), so we will have to take a revisit this next year and see if this new budget has helped increase any activity amongst local investors.

Here is what the state of early stage funding in Hong Kong really looks like:

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Hong Kong Startup HotelQuickly Raises a Huge Series A-1 Round of US $4.5 Million

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Hong Kong’s HotelQuickly has raised a huge Series A-1 round of US $4.5 million.

The investment was led by global mobile social company GREE and also included William E. Heinecke, the CEO and chairman of Thai-based Minor International, a hospitality giant that operates over 1,500 restaurants and 100 hotels in the Asia-Pacific, the Middle East and Africa.

The last-minute hotel booking app’s latest deal will bring its total funds to $US 5.5 million, having raised $1.13 million back in September of last year. According to a release, the HotelQuickly team plans on using the new capital to ramp up its product development efforts and will also be hiring for a number of development and marketing roles in its Bangkok and Hong Kong offices.

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Hong Kong Startup-Turned-Global Big Data Company ‘DemystData’ Raises US $5 Million in Series A Funding

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Data analytics startup-turned-global software provider DemystData has raised US $5 million in Series A funding.

According to Big Data Pile, Investors involved in this round include Hong Kong-based Arbor Ventures, Nation Capital, P2P Equity Partners, SingTel Innov8 and Wonga founder Errol Damielin. In the past, Arbor Ventures had already invested in DemystData, along with Accion and Venture Lab.

“Big Data is booming; but data access, integration, cleansing, and interpretation is a real pain point for most financial institutions. That’s all we do,” said founder and CEO Mark Hookey. “DemystData software delivers enhanced consumer and small business risk information to augment existing systems and help clients say ‘yes’ more often.”

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