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S E P T E M B E R 2 0 2 4
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Bateriku.com will advance roadside assistance technology and unify its Battery, Breakdown, Bengkel (workshops), and Bazaar (auto parts marketplace) services into a single ecosystem. Its 'Go Recon Save The World' initiative focuses on reconditioning and recycling car batteries, highlighting its environmental commitment. The company plans to expand into Indonesia and Singapore, leveraging its network of 200 outlets and 1,000 gig technicians.
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This funding marks the first equity partnership between an international venture capital firm and a Pakistani commercial bank in the Buy Now, Pay Later (BNPL) sector, with Bank Alfalah leading the seed round. Since its founding in 2021, Qist Bazaar has provided over 55,000 loans worth US$12 million to unbanked and underbanked customers. With this new funding, the company plans to expand operations across Pakistan and introduce products such as solar power generators for small households.
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The University of Hong Kong (HKU)'s Entrepreneurship Engine Fund (EEF) fosters entrepreneurship and scientific innovation by allocating capital to early-stage investment institutions globally. Focused on nurturing deep-tech startups from HKU, the EEF serves as a ‘mother’ fund. Gobi, DEFTA Partners, and CASSTAR will contribute their expertise to enhance HKU’s entrepreneurial ecosystem.
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Led by the AEF Greater Bay Area Fund, managed by Gobi GBA, Base Therapeutics will use the funding to enhance research and development, accelerate clinical trials, and expand into the Greater Bay Area, with Hong Kong as its core. Since its founding in 2021, the company has pioneered gene editing through its AccuBase® system and developed cell therapies targeting cancer and genetic diseases. It holds multiple patents and engages in global collaborations.
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Airwallex has streamlined McLaren Racing’s international payments during the 2024 Formula 1 season. By replacing the time-consuming, single-payment process, McLaren’s finance team can now execute batch payments in under an hour, saving half a day of work each month. With faster transfers and competitive FX rates, 90% of McLaren's transactions now arrive within hours, while 65% are instant. This partnership reflects McLaren’s commitment to speed and efficiency both on and off the track.
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Inspired by his father’s entrepreneurial spirit, founder and CEO Henson Tsai emphasises the importance of aligning with investors who share the company’s mission and focusing on long-term growth. Founded in 2019, SleekFlow provides AI-powered customer inquiry solutions for retail businesses, with adaptability and change as core values. Tsai advises tech startups to prioritise meaningful partnerships over fundraising details and focus on building a strong foundation.
To read his full interview, click the button below.
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The Soonicorn Collective is a peer-to-peer leadership and learning community for mature and growth-stage entrepreneurs. While in-person engagements are exclusive to members, Ramachandran Muniandy, co-founder and CEO of Asia Mobiliti, and Mohamed "Mo" Tarek El-Fatatry, founder of Gobi-backed portfolio company ERTH, believe in sharing knowledge and insights with the broader ecosystem.
Watch the first episode, where they introduce the goals of the collective and the podcast, sharing experiences from live sessions and peer-to-peer learning.
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Renee Pan, Gobi GBA's Managing Director, spoke at the "Women in the Inclusive Economy" event in Shanghai, emphasising the need for a more inclusive tech ecosystem. She highlighted the importance of supporting women entrepreneurs and innovators and how Gobi continues to advocate for women’s empowerment, striving to build a more inclusive and equitable ecosystem.
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