TechNode Global, a Singapore-based tech media startup with a focus on the Asian market, announced today it has raised US$1 million in seed funding led by Kairous Capital, a cross-border VC firm focusing on China and Southeast Asia with offices in Kuala Lumpur, Shanghai and Hong Kong.
Nutty Capital Venture (Hong Kong) and SPH Ventures, the early-stage VC arm of Singapore Press Holdings (parent of Straits Times and Business Times), also joined the round.
As per a press release, the fresh funds will go towards bankrolling the media platform’s expansion in Asia. The company also plans to cover more technology stories and build a “comprehensive cross-border business” across the region.
Launched in early 2019 by Gang Lu, TechNode Global is a spin-off from China-headquartered bilingual tech media platform TechNode. The company claims it is building a technology community platform that offers news, provides fundraising and deal flow support and facilitates corporate-startup partnerships.
The deepening cross-border commercial ties between China and the rest of Asia, especially with Southeast Asia, present a huge market opportunity as Chinese tech behemoths step up their expansion and investments in the region.
By spinning off from TechNode, TechNode Global can focus its industry and regional expertise into better serving the significant Asia Pacific Market.
The media firm said it has worked with notable corporations including Huawei and Alibaba Cloud. As part of its Asia expansion plans, TechNode Global will set up an office in Malaysia in the near future.
“Asia is the next promising technology innovation centre and market. With the enormous experience and resources TechNode has in China, I believe we are at the right place, at the right time to carry out our purpose,” added Lu.
“Being a regional VC investing across China and Southeast Asia, we envisage integration and collaboration opportunities in the technology and business space within the region. TechNode Global being connected with the Asia Pacific technology ecosystem coupled with the recently signed RCEP, we are positive that they will be a key player as a regional innovation enabler,” opined shared Lee, Managing Partner at Kairous Capital.
“Despite the serious impact from COVID, we do see a big innovation opportunity trending into a number of new technology frontiers. We believe it’s good timing for TechNode to expand into new markets and participate in the fast-growing Southeast Asia tech playground,” said Gilbert Lam, Executive Director at Nutty Capital.
Image Credit: TechNode Global
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