OneDegree, a Cyberport home-grown insurance technology company, raised US$28 million in a B1 funding round as it accelerates to be the next-generation InsurTech leader in the region.

Sun Hung Kai & Co. and AEF Greater Bay Area Fund took part in the series B1 round along with six existing investors. The latest investments take OneDegree’s total fundraising to more than US$70 million.

The new funds will be used for OneDegree's investment in new technology, product development and expansion across both Business to Consumer (B2C) and Business to Business (B2B) segments.

"OneDegree has been going from strength to strength. This latest funding round is a testament to our achievement and a vote of confidence from both our existing and new investors," said Alvin Kwock, Co-founder of OneDegree. "Our ambition is to grow OneDegree Hong Kong into a top three general insurance providers in Hong Kong by 2025 and bring our proven consumer products to key markets across Asia."

Lynk Secures New Funding from UBS’s Investment Bank to Expand Global Reach

Meanwhile, Lynk, the AI-driven “knowledge-as-a-service” platform with more than 840,000 experts, has also announced expansion of its previously announced Series B to include new funding from UBS’s Investment Bank business division.

UBS’s investment brings Lynk’s total funding to date up to US$35M, as this Cyberport community company plans to use the funds to expand its offerings and global reach.

“This strategic investment from UBS validates our conviction on the increasing need for expert access and digitization in the research process for investors and businesses,” said Peggy Choi, CEO and founder of Lynk. “We are also working together to innovate on our growing range of product and service offerings, and couldn’t be more excited to continue collaborating together to innovate as a Knowledge-as-a-Service category leader.”

About iStartup

[email protected], a one-stop platform run by Cyberport, is designed to connect tech start-ups to investors and users seeking innovative solutions. Through this virtual-pitching channel, tech companies can showcase their profile and products to attract funding and expand their business footprint.

    cyberport@HK logo