Hong Kong’s Hottest Startups of 2025

 Healthcare startups dominated the list.

The healthcare sector tops the Hottest Startups list with three entries, aligning with forecasts that Hong Kong would see a rise in health-focused startups.

The retail sector follows, with two startups making the cut.

This year’s list includes startups that have amassed large funding, alongside those recommended by venture capital firms such as Beyond Ventures and startup analytics platform Tracxn Technologies.

Here are this year’s Hottest Startups, sorted by year from the most recent.

Allegrow Biotech
Founder/s: Laurence Lau, PhD and Ying Chau, PhD
Total Funding: $10m (US$1.3m)
Founding Year: 2023

Allegrow Biotech pioneers artificial cell tech, dramatically accelerating immune cell expansion for enhanced cell therapy efficacy. Mimicking the immunological synapse, their synthetic platform generates superior immune cells for diverse diseases. A HKUST spin-off, Allegrow achieves significantly higher cell yields. Raising $15m, they advance towards clinical-grade products, aiming to revolutionize treatments for cancer, autoimmune disorders, transplant rejection, and other immune conditions, making cell therapies more efficient and accessible globally.  

GUTolution
Founder/s: Wayne Chan Cheuk-lap and Wilson Chang
Total Funding: $3.9m (US$500,000)
Founding Year: 2023

GUTolution revolutionises healthspan extension by addressing chronic illnesses through personalised microbiome health solutions. Specialising in at-home health tests, precision supplements, and microbiome medicine, it combines cutting-edge next-generation sequencing (NGS) with our patent-pending AI platform to deliver tailored interventions based on individual gut microbiomes. It has established research partnerships with prestigious universities and business collaborations with listed healthcare companies to achieve rapid sales growth and are expanding overseas into the Greater Bay Area, Southeast Asia and the Middle East. Currently, the startup is seeking seed/Pre-A funding to fuel further growth in the global microbiome market.

Primus Labs
Founder/s: Xiang Xie and Vicky Zhang
Total Funding: $50.55m (US$6.5m)
Founding Year: 2023

Primus Labs connects Web2 and Web3, enabling developers to integrate real-world data into blockchain applications. Its software development kits (SDKs) use zero-knowledge transport layer security (zkTLS) to verify Web2 data, ensuring authenticity and privacy. This allows Web3 app development beyond DeFi, into e-commerce, AI validation, and identity. The startup empowers developers to create trust-based Web3 platforms, driving a decentralised internet where users control their data.  With over 20 partners, including FractionAI, Phala Network, and Unipay, Primus Labs expects to grow its network to 80 partners this year.

Stellerus
Founder/s: Hui Su, Limin Zhang, and Jeffrey Xu
Total Funding: $6.5m (US$837,938)
Founding Year: 2023

Stellerus Technology aids governments and industries in managing high-value assets against extreme weather and climate risks, utilising AI and satellite tech. Their solutions assess hazards, informing infrastructure resilience, insurance, and compliance. Analysing data from 100+ satellites, their AI platform provides real-time hazard evaluation and long-term climate risk assessments. Clients include governments and firms in Hong Kong, China, and Belt and Road countries. They're raising $10m–$20m for expansion in Southeast Asia and the Middle East. Stellerus also plans a space-based greenhouse gas observatory for carbon monitoring, leading in environmental tech.

Braillic 
Founder/s: Camroo Ahmed
Total Funding: $1m (US$128,593)
Founding Year: 2022

Braillic revolutionises surgery with AR and AI, enabling surgeons to visualise patient's internal anatomy non-invasively. Their ArNav system provides a holographic 3D surgical view, enhancing precision and minimising incision errors. With sub-millimeter accuracy, it improves safety and efficiency. Initially focused on neurosurgery, Braillic is expanding into spinal and orthopaedic procedures. They seek another US$1m for FDA and CE certifications, an AI surgical assistant, and a training platform. Braillic aims to globally democratise advanced surgical navigation, making complex procedures safer and more accessible for patients and professionals.

Cathoven AI
Founder/s: Guanjiao Long, Mingxi Liang, Erdi Tac
Total Funding: $7.8m (US$1m)
Founding Year: 2022

Cathoven supports learners from foundational practice to high-stakes exam prep like IELTS by delivering instant scoring, targeted feedback, and progress tracking aligned with CEFR levels and exam rubrics. Trusted by 40,000+ educators and used by 50+ top institutions—including Columbia, UC Berkeley, and Cambridge—as well as major U.S. publishers like Renaissance Learning. What sets Cathoven apart is its accurate and consistent scoring engine, coupled with feedback specifically designed to challenge students incrementally without overwhelming them. With ongoing collaboration with linguists and educators, Cathoven is expanding its partnerships with universities, publishers and  language learning EdTech companies in 2025.

Code-Create
Founder/s: Calvin Wong and Kim Wong
Total Funding: Undisclosed (Seed)
Founding Year: 2022

Code-Create transforms fashion design with AiDA 3.0, an AI tool generating customizable collections quickly, respecting artistic rights. AiDA 3.0, developed over five years, accelerates design by 60%, offering editable sketches, patterns, and colours from keywords. Designers can protect their intellectual property while benefiting from a growing design community. With 300+ subscribers and 3,000+ trial users, Code-Create sources data compliantly. Code-Create plans to expand its AI offerings with SARA, an assistant for styling and retail. Seeking funding, they aim to scale across the fashion industry, empowering designers with efficient, copyright-safe AI tools.

not only powder
Founder/s: Fioni Fong and Alvin Fong
Total Funding: Undisclosed
Founding Year: 2022

nop gives new life to expiring and "ugly" fruits, creating sustainable, natural products beyond just powders. They promote healthy living and reduce food waste through innovative solutions. Using freeze-drying, they retain 95%-97% of fruit nutrition, offering convenient options for busy individuals. nop breaks the food waste cycle, reducing CO2 emissions and nourishing the planet. Their system helps partnered groceries and fruit bars manage "ugly" fruit inventory efficiently, leveraging computer-vision technology to analyze quality. They also collaborate with diverse partners, including cafes, hotels, fitness studios, corporations, and NGOs.

The Z Label
Founder/s: Ruby Cheng and Rebecca Leung
Total Funding: $88.7m (US$11.4m)
Founding Year: 2022

The Z Label develops Gen Z products using AI, big data, and spatial computing. They partner with supply chains, universities, and distribution networks and is backed by Beyond Ventures and the Innovation and Technology Venture Fund (ITVF), the startup is scaling its portfolio of in-house brands and businesses. “The Z Label has a clear worldview of the latest consumer trends and new technologies. Its global network and growth engine can bring new demands and product ideas to shine on the international stage, and inject new energy into Hong Kong’s startup ecosystem,” said Beyond Ventures.

Xalts
Founder/s: Ashutosh Goel and Supreet Kaur 
Total Funding: Undisclosed (Seed)
Founding Year: 2022

Xalts is a fintech platform building vertical AI agents and bank connectivity network for treasury & finance teams. Treasury & finance teams can scale & achieve efficiency by leveraging Xalts' AI agents to perform financial operations based on internal processes & policies, and their proprietary bank connectivity network to automate end-to-end processes. Their task-specific AI agents can be chained together to automate treasury and trade finance processes, helping finance teams unlock immediate financial gains without overhauling their existing systems and platforms. Xalts is trusted by leading Fortune 500 companies and backed by Accel, Citi Ventures, Bangkok Bank & CTBC Capital.