Hong Kong-based virtual insurance company OneDegree has completed a $27 million funding round, with participation from New World Development and other investors.

According to BlockBeats news on June 29th, Hong Kong-based insurtech startup OneDegree, which was the first to obtain a virtual insurance license in the city, has completed a $27 million financing round with participation from Gobi Partners, Sun Hung Kai and Bitrock, among others, as reported by the South China Morning Post. It is reported that OneDegree's total financing has exceeded $97 million and it first launched cryptocurrency insurance in November 2021. The new funds will be used to further expand its business in Asia and expand its portfolio of digital asset insurance.