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Startups

Hong Kong chatbot developer FreeD raises $15m from Daiwa-led group

Startup to use infusion for Southeast Asian expansion

Abel Zhao, right, and Kenneth Lee, left, founded FreeD together in 2015. (Source images courtesy FreeD Group)

HONG KONG -- FreeD Group, a Hong Kong-based software company that has built artificial intelligence-powered chatbots and recommendation engines for clients including Samsung Electronics and Marriott International, has raised $15 million in a new funding round led by a Daiwa Securities Group fund.

Alongside Daiwa ACA APAC Growth, Hong Kong property developer ChinaChem Group and the city government's HKSTP Corporate Venture Fund joined the fundraising. Radiant Tech Ventures, a Hong Kong investment group which had previously backed FreeD, also participated in the round which valued the group at $105 million.

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