China Digest: Minospace snags $14m; Nogle invests $3m in First Digital Trust

Space satellite over the planet earth

Space-tech company MinoSpace has garnered approximately 100 million yuan ($14 million) in a Series A2 round funding led by Billionhome Capital while crypto player First Digital Trust has raised $3 million from venture studio Nogle.

Minospace snags nearly $14m in Series A2 round

Beijing-based space technology company MinoSpace has garnered approximately 100 million yuan ($14 million) in a Series A2 round funding led by financial solutions firm Billionhome Capital and joined by existing backer NXROBO, an artificial intelligence (AI) driven education technology developer, according to a company statement. 

Led by co-founder Shufan Wu, MinoSpace has developed a proprietary product Intelsat earth terminal, which is widely used in national defence and other fields. 

The developer has launched a total of four satellites in Jiuquan and Taiyuan satellite launch centres in 2019. It expects to launch moonlets in 2020. 

The current financing will be invested in the above 200-kg satellite project.

Since 2017, MinoSpace has completed four rounds of financing. In September 2019, it secured tens of millions of dollars in Series A+ round funding from state-owned Shenzhen Capital Group, Yongxin Group’s investment arm Kexin Capital and existing investors Yonghua Capital, Casstar, and  NXROBO.

Prior to it, it had also collected money from China Aerospace Science and Industry Corporation’s subsidiary, Essential Capital, Amphora Capital, Feng Yang Capital, and CPG Capital Partners. 

Nogle invests $3m in crypto firm First Digital Trust

First Digital Trust (FDT), a crypto firm spun off from Hong Kong-based financial solutions player Legacy Trust, has raised $3 million from venture studio Nogle, per local media reports on Tuesday. 

A month ago, FDT unveiled an under-tested settlement network, Rapid Settlement and Clearing Network (RSCN), in bid to transform the way digital assets are owned, traded and invested in. 

FDT aims to facilitate the innovation RSCN and launch it in May this year. 

Headquartered in Hong Kong with main office in Taipei, Nogle is a tech-driven venture capital firm. It has poured money into other high-tech startups such as Hong Kong’s top e-wallet TNG and global messenger app Telegram. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.