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AlgoGroup, a tech-enabled pet brand platform, secures USD 1 million seed round of funding.

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10 months ago

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SINGAPORE, Feb. 22, 2024 /PRNewswire/ — AlgoGroup, a tech-enabled pet brand platform, secures USD 1 million seed round of funding. The round was co-led by FoundFast and Primest Capital, with investment from notable angels including Thomas Hill (previously Founder of Clicksit before exit to Sorted).

The company plans to use the funds for international growth, creating Go-to-Market Programs for Pet Brands in Hong Kong, Singapore and the United Kingdom markets. Each program will provide emerging pet brand owners with direct customer insights and improved marketing efficiency, driven by Algo+, a proprietary trading platform designed to ease access to pet-specific sales channels.

Algo was founded in 2023 by Chris Fung, a Sydney University alumnus in Hong Kong, supported by founding team members joining from Klook, Meta and Una Brands, to address a growing market for emerging pet brands that had difficulty penetrating an increasingly specialized distribution landscape.

“The Algo story began when we noticed a surge in new pet brands founded by entrepreneurs who were pet enthusiasts. These brand owners were underserved by traditional distributors, and lacked resources operating e-commerce marketplaces to scale their brands internationally,” said Fung.

Despite a $270bn pet product market growing at 9.3% CAGR in the Asia-Pacific region, leaders in the pet product space report double digit declines in market share. At the same time, methods of distribution, especially in e-commerce, increasingly require specialized skills. Algo aims to address the pain points of emerging brand owners by providing market intelligence, efficient access, to exit or co-ownership opportunities.

“Algo’s vision is to use e-commerce data & technology to more efficiently create brands and products in tune with what customers want, starting with the pet sector. This capital raise allows us to better reach out to pet brand entrepreneurs to join our family of brands,” said Fung. “At the same time, we are excited to partner with investors including FoundFast and Primest Capital to drive our vision forward”.

“Algo offers a compelling new vision for how to create a house of consumer brands through technology, with strong ties to Hong Kong“, said Christian Oei, partner at FoundFast, a Hong Kong based startup platform. “As champions of Hong Kong entrepreneurial talent, we’re proud to call AlgoGroup our first portfolio company.”

“We are impressed by the vision of the founding team of Algo, and their determination to effect disruption in the pet sector,” said Gunnar Mansfeld, Chairman of Primest Capital, an asset management and investment advisory business with strong ties to Sweden. “We look forward to working closely with Algo’s management team to enter the European market”.

About AlgoGroup

AlgoGroup’s vision is to become Asia’s leading tech-enabled pet brand platform, specialising in the organic growth, management and selective acquisition of pet care, food and related brands. Algo adopts a proprietary process that quickly identifies, validates and then integrates emerging brands into its house brand portfolio using e-commerce and technology. For more information, see: AlgoGroup.io.

About the Investors

FoundFast is a startup platform allowing potential founders to quickly validate and iterate on ideas, receive coaching, and access investment opportunities. FoundFast runs a monthly ideation stage competition with no-strings-attached cash prizes, as well as other community events.  For more information, see: FoundFast.io.

Primest Capital is a HK based asset management and investment advisory business with offices in Sweden and Australia. Primest invests in sectors from Manufacturing and Engineering, Commodities and Natural Resources, Seafood and Fisheries, Food, Pharma, Retail, and FMCG. For more information, see: http://bit.ly/48qYX2v.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/algogroup-a-tech-enabled-pet-brand-platform-secures-usd-1-million-seed-round-of-funding-302067363.html

SOURCE AlgoGroup

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Stora Enso Oyj: Notification of Change in Holdings according to Chapter 9, Section 10 of the Finnish Securities Markets Act (25 December 2024)

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14 minutes ago

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December 27, 2024

By

STORA ENSO OYJ STOCK EXCHANGE RELEASE 27 December 2024 at 09:00 EET

HELSINKI, Dec. 27, 2024 /PRNewswire/ — Stora Enso Oyj received a notification pursuant to chapter 9, section 5 of the Securities Market Act from BlackRock, Inc on 27 December 2024.

On 25 December 2024, BlackRock’s holding in Stora Enso’s shares decreased below the 5 percent threshold.

% of shares and voting rights (total of 7.A)

% of shares and voting rights through financial instruments (total of 7.B)

Total of both in % (7.A + 7.B)

Resulting situation on the date on which threshold was crossed or reached

4.76% shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

5.04% shares

Below 5% voting rights

Position of previous notification (if applicable)

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

Below 5% shares

Below 5% voting rights

 

A: Shares and voting rights

Class/type of shares

ISIN code (if possible)

Number of shares and voting rights

% of shares and voting rights

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

Direct

(SMA 9:5)

Indirect

(SMA 9:6 and 9:7)

FI0009005961

37,609,170  shares

Below 5% voting rights

4.76% shares Below 5% voting rights

SUBTOTAL A

37,609,170 shares

Below 5% voting rights

4.76% shares

Below 5% voting rights

B: Financial Instruments according to SMA 9:6a

Type of financial instrument

Expiration date

Exercise/Conversion Period

Physical or cash settlement

Number of shares and voting rights

% of shares and voting rights

American Depositary Receipt (US86210M1062)

N/A

N/A

Physical

596,930 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

Securites lent

N7A

N/A

Physical

1,036,720 shares

Below 5% voting rights

0.13% shares

Below 5% voting rights

CFD

N/A

N/A

Cash

563,510 shares

Below 5% voting rights

0.07% shares

Below 5% voting rights

SUBTOTAL B

2,197,160 shares

Below 5% voting rights

0.27% shares

Below 5% voting rights

 

Stora Enso has two series of shares. Each A share and every ten R shares carry one vote. Stora Enso has 175,664,079 A shares and 612,955,908 R shares in issue. The Company does not hold its own shares. The total number of Stora Enso shares is 788,619,987 and the total number votes at least 236,959,669.

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

Stora Enso

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors

STORA ENSO OYJ

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691 

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/stora-enso-oyj/r/stora-enso-oyj–notification-of-change-in-holdings-according-to-chapter-9–section-10-of-the-finnish,c4086606

The following files are available for download:

https://mb.cision.com/Main/13589/4086606/3189711.pdf

STORA ENSO Class R_2024-12-25_Issuer

 

View original content:https://www.prnewswire.com/news-releases/stora-enso-oyj-notification-of-change-in-holdings-according-to-chapter-9-section-10-of-the-finnish-securities-markets-act-25-december-2024-302339535.html

SOURCE Stora Enso Oyj

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Truecaller continues strong growth, surpasses 400 million Android users

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14 minutes ago

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December 27, 2024

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STOCKHOLM, Dec. 27, 2024 /PRNewswire/ — Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, reached another important milestone on 24th of December, when the number of monthly active users (MAU) on the operating system Android surpassed 400 million. Truecaller continues to grow rapidly in many geographic markets and the total user base has grown with more than 57 million users during 2024 and has now surpassed 433 million users in total.

“Truecaller’s strong commitment to help businesses and individuals communicate better through both calls and messages, continues to grow. Our geographical footprint is growing each day, and the development in our targeted growth markets is strong. We’re thrilled at achieving this milestone and we look forward to serving the next 400 million Android users,” says Rishit Jhunjuhnwala, Chief Product Officer and incoming CEO of Truecaller.

The growth in India continues to be strong with a growth of approximately 37 million users in but the relative growth in other parts of the world is stronger with a growth of 20 million users during 2024.

Truecaller will continue to report the average number of monthly and daily users on a quarterly basis in connection with interim reports.

For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 433 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/truecaller-continues-strong-growth–surpasses-400-million-android-users,c4086573

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View original content:https://www.prnewswire.com/news-releases/truecaller-continues-strong-growth-surpasses-400-million-android-users-302339536.html

SOURCE Truecaller AB

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Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang

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14 minutes ago

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December 27, 2024

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BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.

The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.

During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.

The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.

The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.

Original link: https://en.imsilkroad.com/p/343777.html

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/xinhua-silk-road-conference-on-deepening-financial-openness-and-co-op-in-northeast-asia-held-in-ne-chinas-shenyang-302339540.html

SOURCE Xinhua Silk Road

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