Hospitality startup K Hotel raises S$2m in seed funding

K Hotel, a Singapore-based hospitality firm, has raised S$2 million (US$1.4 million) in seed funding led by private investor Noel Neo, according to an SGSME report.

Several other individuals with a background in the real estate industry also co-invested.

He has also joined the startup as its CFO.

The seed funds raised will be used to acquire new hospitality projects (including hotels and hostels) on master lease terms for two to six years, as well as capital expenditure for such properties.

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The company also plans to secure S$5 million in Series A.

Thailand’s central bank announces digital currency prototype

The Bank of Thailand (BOT) has announced the project to develop the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC), which will build upon knowledge from Project Inthanon.

According to a Fintechnews report, the project scope will include conducting a feasibility study and developing a process to integrate CBDC with the business’ innovative platform.

The BOT recognises and supports the important roles of financial innovation and technology in enhancing the competitiveness and readiness of the business sector entering the digital age.

In recent years Thailand’s central bank has been displaying leadership in driving the adoption of distributed ledger technologies and CBDCs.

Milk Mantra secures US$10M US firm

Milk Mantra, an Indian startup that procures, packages, sells and delivers milk and other dairy products, has raised US$10 million in a new debt financing round, says a TechCrunch report.

U.S. International Development Finance Corporation (DFC) has committed a US$10 million loan to Milk Mantra.

In total, the firm has raised about US$35 million in equity funding to date.

Headquartered in the state of Odisha, Milk Mantra has built the entire value chain for servicing dairy products, said Srikumar Misra, founder and chief executive of the startup, in an interview with TechCrunch.

MedTech Innovator to select 20 startups to participate in its APAC Showcase programme

Align Technology has partnered with MedTech Innovator, a nonprofit startup accelerator in the medical technology industry, says a report

The Los-Angeles based MedTech Innovator matches healthcare industry leaders with innovative medtech startups for mentorship and support.

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This year, MedTech Innovator will select 20 startups to participate in its Asia Pacific Showcase programme and will award over US$300,000 in cash prizes, scholarships and in-kind services to its participants.

Align will work with MedTech Innovator Asia Pacific to mentor and foster the growth of promising early to mid-stage companies selected for the 2020 Showcase programme and provide financial support to the accelerator.

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