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Israel Trade & Economic Office, Embassy of Israel

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Israeli startup Ginger gets $5M infusion

Via Ynet

Hong Kong billionaire Li Ka-shing takes a shine to local businesses; opts to finance online proofreading software developer

 

Hutchison’s controlling shareholder, Hong Kong billionaire Li Ka-shing, announced that he will invest $5 million in Israeli startup company Ginger Software.

Ginger, which was formed in 2007 by Yael Karov, developed an algorithm that aims to proofread documents.

The company’s latest financing round raised $5.4 million – the majority of which came from Li. The previous financing round saw Ginger raise $6.3 million.

So far, Ginger has been able to raise $21 million, according TNW.

Other than Partner and Ginger, Li Ka-shing has so far invested in several other Israeli startups, including Tripboard, Wibbitz, Onavo, Waze and Magisto.

The company has recently changed its business model form a one-month free installation to a free Chrome extension, which offers users the ability to subscribe if they wish to expand the software’s features.

Ginger is currently developing a version for Firefox, as well as on a voice activated version of the software.