Hong Kong based Foodtech startup Avant and Israeli Edutech startup TinyTap close over $1m on AngelHub
- AngelHub has closed two more fundraising rounds with Hong Kong Foodtech startup Avant and Israel-based edutech firm TinyTap. The rounds come to a total of US$5 million.
- The global cultured meat market alone will be valued at US$214 million by 2025, growing to US$593 million by 2032, according to a report published by MarketsandMarkets, reiterated by the rising interest of professional investors on AngelHub.
- Notable investors for Avant include China Venture Capital, ParticleX, as well as global leading alternative protein venture capital firms Lever VC, CPT Capital, Artesian, Loyal VC and 208 Seed Ventures.
- Scaleup from the startup nation, Israel, looks to Asia for expansion
- Notable investors for TinyTap include Israeli VCs Inimiti Capital Partners and Aleph
Hong Kong (15 December 2020) – Hong Kong’s first and only licensed startup investment platform AngelHub today announces that it has closed two more fundraising rounds for more than $US 1,000,000. With Avant raising its seed funding round of US$ 3,000,000 and TinyTap raising their growth round of US$ 2,000,000, AngelHub saw participation from their crowd of professional investors, reiterating the interest in FoodTech and Edutech amongst investors around the world.
Asia’s First Cultivated Fish Fillet
Avant is the first cultivated meat biotechnology company in China. Its patent-pending proprietary technology platform produces animal-free fish proteins for food, skincare, and other functional applications in a cost-effective and fully traceable bioprocess, directly from fish cells.
Backed by Lever VC (early investors into Impossible Foods and Beyond Meat) and having graduated from Brinc’s Fall ’19 Hong Kong Accelerator Programs, the HKSTP incubee, Avant is looking to accelerate commercialization of its animal-free cultivated fish products to market.
This latest financing will accelerate Avant’s commercialization, as well as support research and development to reduce production costs.
Speaking about the fundraising rounds, Karen Contet, CEO and Co-Founder of AngelHub says: “AngelHub is proud to have invested in 7 companies this year from pre-Series A to Series C providing professional investors highly vetted tech investment opportunities we search around the globe, which were only available to institutional investors.”
Learners offered access to the world’s largest library of educational games handmade by teachers worldwide
TinyTap is an Israeli Education tech company focussed on creating an e-learning platform for kids. TinyTap allows teachers and parents to create the content suited to the needs of their target audience.
Backed by Israeli VCs Aleph and Inimiti, TinyTap is looking to accelerate its growth. The latest funding will go towards marketing, namely content creation and opening new marketing channels.
Speaking about the investment, Carrie Chan, Co-founder and Chief Executive Officer, Avant says: “As demand for and acceptance to cultivated meat continues to increase, we have attracted strategic and venture investors who can support us with manufacturing know-how, customer relationships, and follow-on capital. We will continue to work with the sustainable seafood and functional protein industry worldwide to accelerate adoption of our products into existing supply chains.”
Speaking about the investment, Yogev Shelly, CEO, TinyTap says: “In AngelHub, we found a partner to help us reach an audience of investors that we would have never been able to access otherwise, both geographically and financially. I believe it’s a clear win win for us as a company and for AngelHub’s network for investors, since we couldn’t have gone through an investment process with so many individuals and many of the investors wouldn’t have gotten access to our deal due the minimum amounts needed to start a process.
In addition, the process was swift and after the initial setup process concluded, it was really all AngelHub, the next time we spoke was to receive the investment.
It was a pleasure working with AngelHub and I personally recommend that for anyone looking to raise capital for a tech startup, to consider this unique channel of funding.”
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AngelHub, first SFC licensed startup investment platform, democratises startup investment. AngelHub enables professional investors to fund worldwide vetted growth companies scaling or established in Asia. Investors are empowered to invest in the startups of their choice across sectors, cutting edge technologies and stages, easily through a fully digitised and efficient process. Over the past year, AngelHub has made 7 investments across Asia, Europe and the Middle East.