Temasek, others invest US$30M into Bits x Bites China food-tech fund

The story: China’s VC firm Bits x Bites has raised US$30 million in the first close of its US$70 million foodtech fund, according to Greenqueen.

Investors: Temasek, Monde Nissin CEO Henry Soesanto, and other unnamed conglomerates and family offices.

More about this story: Bits x Bites aims to back early-stage Chinese and global founders who are coming up with solutions to improve the the country’s food supply chain. These include precision agriculture, crop and animal health, alternative proteins and nutrition.

Also Read: Afternoon News Roundup: Temasek, others invest US$500M in American plant-based meat company Impossible Foods

“With African Swine Flu, COVID-19, and uncertain trade relations, nothing else is more urgent in China today than growing the self-sufficiency and sustainability in food production,” Matilda Ho, Founder of Bits X Bites.

fREADom raises US$2.5M for its full-stack English learning platform

The story: Edutech app fREADom, owned by Indian startup Stones2Milestones, has raised US$2.5 million in a pre-series A round of funding, according to a press statement.

Investors: Unreasonable Capital, Goldhirsh Foundation, undisclosed angel investors, FaaD Network and Lets Venture.

More about the story: fREADom currently has 200,000 users on its platform and expects its annualised revenues to cross US$7.5 million by March 2021.

“We are now scaling our solution fast to reach 10 million within the next 12-18 months. With a product that’s working for 200,000 plus users, a profitable business model and a mission-aligned passionate leadership team, this round of capital are well-timed for fueling growth,” said Kavish Gadia, co-founder and CEO, Stones2Milestones.

Halodoc launches veterinary services on its platform

The story: Halodoc, a health-tech platform based in Indonesia, has announced the launch of veterinary services on its platform.

More about the story: The telemedicine platform will now be able to help pet owners get medical consultation via messenger chat, even though pet owners may still need to proceed with offline consultation as a follow-up.

Also Read: How HaloDoc aims to open greater access to healthcare for all Indonesians

About Halodoc: Founded in 2016, Halodoc enables patients to communicate directly on smartphones and desktops to 20,000 licensed doctors in the country, whenever and wherever.

In addition to that, the platform also serves as an at-home checkup-booking platform and medicine delivery vehicle through its application that’s connected to 1,300 pharmacies.

Image Credit: Unsplash

The post In brief: Temasek invests in China’s US$30M foodtech fund Bits x Bites appeared first on e27.



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