Beijing-based autonomous driving solutions provider PhiGent Robotics notches funds, while Swiss crypto bank SEBA Bank opens an office in Hong Kong. Also, Hong Kong-listed Brainhole Tech plans to acquire over $3 million worth of crypto in open market.
Xiang He leads PhiGent’s Series A+ round
Beijing-based autonomous driving solutions provider PhiGent Robotics has snapped “several tens of million” dollars in a Series A+ round led by Chinese venture capital firm Xiang He Capital, the firm announced on Thursday.
Ince Capital, which led the firm’s $30-million Series A round in May, re-upped in this round, bringing the firm’s total capital raised to $100 million, the firm claims.
Yi Shan, former corporate vice-president at US chip maker AMD, has also joined PhiGent as co-founder and CEO.
Founded in August 2021, PhiGent specialises in R&D of 3D intelligent solutions and products for self-driving vehicles.
SEBA Bank looks to ramp up APAC presence
Swiss crypto bank SEBA Bank AG has opened an office in Hong Kong for its subsidiary SEBA (Hong Kong) Limited, in a bid to ramp up its presence in APAC, per an announcement.
The firm, which cited the city’s supportive crypto licensing framework as one of the reasons behind the set-up of its Hong Kong office, plans to offer consultancy services and market research as well as engage strategic partners for its head office in Switzerland.
The news comes at a time when Hong Kong announced a slew of virtual-asset-related initiatives as part of the government’s broader push to level up the city’s competitiveness as an international financial hub despite overall economic uncertainties, ongoing COVID restrictions, as well as geopolitical tensions continuing to weigh on its economic outlook.
Brainhole to focus on mainstream crypto
Hong Kong-listed Brainhole Tech, which is a discrete semiconductor manufacturer as well as a smart-communications-infrastructure-based cloud service provider, has announced plans to acquire up to HK$24 million ($3.08 million) worth of crypto in open market transactions, per a bourse filing on Wednesday.
So far, the firm has already purchased around 800.9 units of Ether worth $1.02 million.
“The Group agrees with the Hong Kong Government’s views on the development of virtual assets in Hong Kong. The Group always hopes to leverage our own advantages in the field of smart technology to identify the opportunity of diversification and timely capture the new opportunities brought by blockchain and Web 3.0,” the firm said in the filing.
“This purchase plan will focus on mainstream cryptocurrencies (such as Ether) as a preparation and starting point for diversifying investments in the field of innovative technologies,” the firm added.