Newsletter | August 2023

August 1, 2023




Immuno Cure Completed US$12 million First Close of Series A Financing, led by AEF GBA Fund managed by Gobi Partners GBA
The Hong Kong-based BioTech company's pioneering "PD-1-enhanced DNA Vaccine Platform" and "Anti-Δ42PD1 Antibody Platform" hold promise in combating cancers and infectious diseases, with two DNA vaccine candidates, ICVAX and ICCOV, already in clinical trials. 
Rice Robotics Raises US$7 million Pre-A Funding to Establish Production Plant in Hong Kong and Expand Footprint in Japan
Backed by the recent funding, Rice Robotics has established a state-of-the-art production plant in Hong Kong, which commenced operations since the first quarter of 2023. The facility, located in Tsuen Wan's industrial area and covering a vast area of 13,000 square feet, has quadrupled the company's annual production capacity.

Dayta AI Netted US$5 million in Latest Series A Round to Fuel Overseas Expansion 
The fresh funds will be used to further optimise the cloud infrastructure and develop new AI models. "At Dayta, we pride ourselves on delivering innovative and practical AI solutions that help businesses thrive," said Patrick Tu, CEO and co-founder of Dayta AI.


HSBC New Economy Fund Signs Inaugural Venture Debt Commitment with OneDegree
The transaction marks the HSBC New Economy Fund's first Asia-based venture debt transaction. OneDegree will utilise the capital to expedite its international expansion while leveraging the bank's extensive global footprint as a strategic partner.
Paywatch Partners With Visa in Financial Inclusion Push
Earned Wage Access (EWA) startup Paywatch plans to foster financial inclusion among Asia's workforce. The startup has expressed its commitment to bridging the gap between traditional banking services and the unbanked populations in Asia.

MRANTI, pitchIN to Revolutionise Investment Landscape of Malaysian Startups, Spinoffs
The collaboration will enable startups and spinoffs to raise investments through pitchIN's robust platform while receiving valuable support and guidance from MRANTI throughout their fundraising journey.

Jason Chen on Equity vs Equality: DEI in the Workplace
"Culture at Gobi is crucial to the work we do and the impact we have on both our staff and external parties we interact with. It is of utmost importance that we nurture and invest in our people and take the time to create a safe and inclusive environment for people to thrive and grow," - Jason Chen, Chief Operations Officer of Gobi Partners GBA.

Measuring Digital Warungs in Indonesia 
Eureka AI's Chief Insights Officer, Michael Hawkins, detailed the firm's findings, which affirmed that traditional trade is the largest source of retail sales in Indonesia, making it a sector ripe for further digitisation.


HSBC and Gobi Partners Sign MoU to Support Innovative Businesses Between Hong Kong and ASEAN

Gobi Partners and HSBC share a common vision, which is to help innovative businesses unlock their potential, create more jobs, and access new global opportunities. The MoU signals our commitment to support Hong Kong and ASEAN businesses at all stages, boost their growth, and help them compete on the global stage.” - Luanne Lim, Chief Executive, Hong Kong, HSBC
Malaysia Calls for Enhanced Private-Public Collaboration and Talent Development to Boost Startup Ecosystem
Gobi Managing Partner (Malaysia), Jamaludin Bujang, said that with enough funding and sophisticated managerial skills, Malaysian startup companies can compete effectively on a global scale.


The Big Picture: Startup Insights and Opportunities in the Philippines
Jason Gaisano, Managing Partner of Gobi-Core Philippine Fund, stated that Filipino founders should not focus solely on opportunities within the province or within Metro Manila but should rather see the whole of Southeast Asia as one market for their disruption.
Going Beyond Capital: GUIDE To Nurture Resilient Startups
GUIDE is dedicated to driving digitisation and fostering the growth of startup ecosystems through collaborations and bespoke programs.


GUIDE Presents Venture Capital Showcase: Gobi Partners
The Venture Capital Showcase Series hosted by Gobi University Innovation Development Ecosystem (GUIDE) and the Innovation Entrepreneurship Centre (IEC) of Asia School of Business featured in-depth information on fundraising nuances and investment processes.
Jamaludin Bujang as Panel Judge in Entrepreneur Growth Hub (EGH)'s Startup Pitch Day 
As one of the largest pitching sessions in Penang, Malaysia, EGH is a leading startup incubator for promising local startups across all sectors. EGH plays a pivotal role in nurturing and empowering young entrepreneurs to develop their skills.
Alibaba Hong Kong Entrepreneurs Fund Hosts Summer Mixer at HSBC
Fred Li, Executive Director of Gobi GBA, joined on a panel by representatives from OneDegree and HSBC, shared “We want founders to stay focused on their product and technology development. Venture debt acts as a bridge, providing timely funding without the need for constant fundraising.”
Khazanah Impact Innovation Challenge 2023
Organised under the Khazanah Dana Impak initiative, a US$1.32 billion commitment over five years, the KIIC 2023 intends to attract innovative agri-food start-ups and micro, small and medium-sized enterprises that are actively tackling problems arising from the impact of climate change on the agri-food sector. Applications are open until 4 September 2023.
2023 Commerce Frontiers Forum 
Mark your calendars for 22-23 August 2023, for a two-day high-intensity and exclusive learning experience that sheds light on the inner workings of successful multimillion-dollar brands in the commerce industry. Join us to study cases of technology adoption success and innovative business practices needed to take your SME retail and commerce business to the next stage.

Use early bird promo code: IMANEARLYBIRD@CF to get 30% off
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