China venture capital invests in Hong Kong pet insurance startup

Digital insurer OneDegree will use new funds to expand in regional markets

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OneDegree's medical and accident protection products are aimed at covering the more than 500,000 pet dogs and cats in Hong Kong, of which only 3% are insured.

CK TAN, Nikkei staff writer

SHANGHAI -- China's BitRock Capital led a recent round of fundraising for OneDegree, a Hong Kong-based online pet insurance company, tapping growth opportunities in the region as the territory accelerates financial innovation.

The venture capital fund, along with Hong Kong government-owned Cyberport Fund and Taiwan's Cathay Venture, invested over $30 million in OneDegree in a series A financing round, the initial funding by venture capitals in startups.

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