Hong Kong-based digital asset custody service provider Hex Trust has completed its Series A round raising $6 million led by fintech-focused QBN Capital.
A slew of investors including Cell Rising, Radiant Tech Ventures, Kenetic Capital, HashKey, MD Labs, Fenbushi Capital, Borderless Capital, Genesis Block Ventures and Henri Arslanian joined the round, per a statement on March 30.
The funding follows the company’s launch of a secure way of storing non-fungible tokens earlier this month.
Proceeds from the latest round will be deployed to advance its Hex Safe offering whilst establishing its compliance section. Hex Trust will also invest part of the funding to recruit talent based in Hong Kong and Singapore.
Set up in 2018, Hex Trust helps maximise digital asset management for banks, financial institutions, and corporates.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 30 – 31, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Verticals|
|Nice Tuan||Beijing||750 million||-||DST Global, Alibaba||the D.E. Shaw group, Dragoneer, Anatole Investment Management||E-commerce|
|FlashEx||Beijing||125 million||D2||-||Shunwei Capital, SIG China, N5 Capital, Tiantu Capital, Oceanpine Capital, Alpha Square Group, Axiom Asia Private Capital, Qianshan Capital, CF Capital||Ridesharing /Transport|
|Kaadas||Shenzhen||100 million||B||Orchid Asia||Cowin Capital, Qianhai Huxing Investment||AI and Machine Learning|
|Xie Zhu Technology||Suzhou||46 million||B||Addor Capital||Ocean Tiancheng Fund, SR Capital||Internet of Things|
|Tasogarede||Hangzhou||46 million||B||Qiming Venture Partners, Yijing Capital||Buer Capital, Hyperspace Capital||N/A|
|Artivila Therapeutics||Beijing||23 million||Pre-A||Hightlight Capital||Yijing Capital, Med-Fine Capital||N/A|
|Greatar||Beijing||* 15 million||A||China Fortune-Tech Capital||FG Venture, THG Ventures||AI and Machine Learning|
|RoboCT||Hangzhou||* 15 million||A||-||BlueRun Ventures||Robotics & Drones|
|Zansi||Shanghai||* 15 million||B||-||5Y Capital, IDG Capital||N/A|
|Weiyun AI||Changzhou||15 million||-||-||-||HealthTech|
|HiNa BATTERY||Beijing||15 million||A||-||Phoenix Tree Capital Partners||Electric/Hybrid Vechicles|
|BravoKids||Beijing||11 million||A||-||MatrixPartners China, Challenjers Capital, Yong Xu (Individual Investor)||N/A|
|Hex Trust||Hong Kong||6 million||A||-||QBN Capital||Fintech|
|Biren Technology||Shanghai||-||B||Ping An, New World Group, Country Garden Venture Capital||Source Code Capital, China Merchants Capital, Bertelsmann Asia Investments (BAI), CITIC Securities Investment, Greater Area Homeland Investment, Shanghai Shanghai Strategy Fund, MSA Capital, China Growth Capital, IDG Capital, V Fund, Zhuhai Da Heng Qin Group||AI and Machine Learning|
|Encoo||Shanghai||-||B+||-||Flaming Captial||Robotics & Drones|
|xxdun.com||Beijing||-||C||CMC Capital Partners, IDG Capital, Loyal Valley Capital||Ambrum Capital||N/A|
|Hrmicro||Chuzhou||-||A||-||Addor Capital||AI and Machine Learning|
∗ indicates that the company did not provide the specific size of the deal but only a range. So, we adopt the smallest number in the range, which is “100 million yuan ($15 million)” in the given example.