See the original story in Japanese.
Hong Kong-based Zeroth.ai, the accelerator focused on nurturing startups from Asia in the artificial intelligence (AI) and machine learning (ML) verticals, announced on Friday that it has fundraised an undisclosed sum from and partnered with the region’s startup studio Mind Fund. Mind Fund is to invest in selected startups born out of Zeroth’s acceleration program batches.
Zeroth.ai was launched back in July by Tak Lo who previously served TechStars, one of world-renowned startup accelerator networks, as director in New York City and London. Upon finishing the first batch program from Zeroth, 10 teams from the cohort recently pitched their final results at the firm’s latest Investor Day.
Meanwhile, Mind Fund is a startup studio founded in 2010 by Adam Lindemann who previously served Tokyo-based VC/incubation firm Neoteny as business development manager. Neoteny was launched back in 1999 by MIT Media Lab director Joi Ito. In January this year, Mind Fund secured an undisclosed sum in funding from DG Incubation, the investment arm of Japanese internet company Digital Garage (TSE:4819), and the former claimed that it will provide startups in the blockchain, AI, FinTech-based payments fields with added support for expansion into the Asian market in partnership with the Tokyo company (Editor’s note: Joi Ito is also one of Digital Garage’s managing directors.)
Upon Zeroth’s funding from Mind Fund this time around, we can expect that it will help AI startups in which the firm specializes enhance business into the Asian, Japanese and US markets since the funds from Digital Garage could be indirectly brought to Zeroth’s effort through the partnership with Mind Fund.
Edited by “Tex” Pomeroy