Daily Briefing: EDBI invests in US fintech firm Pico; Advanced MedTech co-leads $13.6m SonoMotion funding

And travel search engine Wego is teaming with the Macau government to lure in tourists.

From DealStreetAsia:

EDBI, the investment arm of the Economic Development Board (EDB), has made an undisclosed investment in US-based financial trading data firm Pico.

The investment by EDBI will see Pico further bolster its presence in the Asia Pacific, a region with a rapidly growing financial services sector.

The Singaporean investment firm joins an eminent list of investors in Pico, including Nomura, Goldman Sachs, J.P. Morgan, UBS, Wells Fargo, DRW Venture Capital and CMT. Many of these investors are also Pico’s customers.

Pico provides market data and infrastructure solutions to clients in the financial market sector. It has over 400 clients including banks, exchanges, asset managers, financial technology vendors and trading firms across five continents globally.

Read more here.

From DealStreetAsia:

Medical device business Advanced MedTech Holdings has co-led a $13.63m (US$10m) Series B funding in SonoMotion, a US-based medical device startup, according to an announcement.

The funds raised will help finance a pivotal study of Break Wave, SonoMotion’s ultrasound solution that fragments kidney stones non-invasively. SonoMotion also plans to launch Stone Clear, a non-invasive ultrasound-based tool to reposition kidney stones within the kidney and ureter, in 2020.

Existing investors MedVenture Partners, Inc and BioVentures Investors also participated in this round.

Headquartered in Singapore, Advanced MedTech has served patients and physicians in 100 countries worldwide.

Read more here.

From TTG Asia:

Singapore-based travel search engine Wego is teaming up with the Macao Government Tourism Office (MGTO) to promote the city to Asian visitors.

Under the partnership, both Wego and MGTO will work on highlighting key attractions and unique experiences of the market.

More than 27 million people visited Macau in the the first eight months of 2019, with overall percentage of visitors travelling from Mainland China (19%), South Korea (3.4%), Hong Kong (21%) and Taiwan (0.9%) rising on a yearly basis compared to the same period in 2018.

The opening of Hong Kong-Zhuhai-Macau Bridge has reportedly lured more holidaymakers, where an overall increase of 9% in Asian tourists is expected during this Chinese New Year holidays.

MGTO partnered earlier with WebBeds with the aim of attracting more Indonesian travellers.

Read more here.