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.