Based in Hong Kong, Grana is run by co-founders Luke Grana (left) and Pieter-Paul Wittgen. Photo credit: Grana.
Alibaba’s US$130 million Entrepreneurs Fund for Hong Kong, which launched last year, has ploughed money into three more startups. It’s the fund’s second wave of investments, the ecommerce behemoth said yesterday.
Hong Kong has become an increasingly attractive city for global talents to start their businesses.
Pocketing some of the booty this time around are Grana, which is a bit like fast fashion giant Asos; Nosh, a startup that makes and delivers ready-to-eat meals; and DayDayCook, a repository of recipes in Chinese and English.
Cindy Chow, executive director of the Alibaba fund, hailed the “talented and visionary entrepreneurs” she encountered in Hong Kong in the past few months as the team weighed up candidate startups. The size of each funding round is not disclosed.
“We are also excited to see that Hong Kong has become an increasingly attractive city for global talents to start their businesses,” added Cindy. “That’s why we see entrepreneurs, like the founders from Grana and NOSH, choose Hong Kong as the hub to launch their businesses and realize their startup dreams.”
Grana’s founder, Luke Grana, hails from Australia; Nosh main man Maximilian von Poelnitz is from Germany.
The Alibaba Entrepreneurs Fund also operates in Taiwan.
This post Alibaba’s Hong Kong fund backs 3 more startups appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/alibaba-hong-kong-fund-more-investments
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