K25.ai, Led by Tech Veteran Andy Cheung, Eyes Public Listing as World's First Prediction Market After $100M Valuation Investment from Nasdaq-Listed Strategic Partner
Rhea-AI Summary
K25.ai, an APAC-focused AI-native watch-to-predict platform, closed a Pre-A strategic round at a US$100 million valuation led by NewGenIVF (Nasdaq: NIVF). NIVF invested US$2 million with an option to increase its total investment to up to US$10 million.
The deal includes an exclusive APAC agency partnership and K25.ai co-founders, including tech veteran Andy Cheung, joining NIVF’s board. K25.ai is exploring potential public-market pathways, including strategic transactions or reverse takeovers, while noting there is no assurance any listing will occur.
Positive
- US$2 million initial NIVF investment at US$100 million valuation
- Option for NIVF to increase K25.ai investment up to US$10 million
- Exclusive APAC agency partnership between NIVF and K25.ai
- K25.ai co-founders joining NIVF board to deepen strategic alignment
- K25.ai pursuing potential public-market pathways, including strategic transactions or RTOs
Negative
- No assurance K25.ai will complete any public-market or strategic transaction
- K25.ai excluded from U.S., Mainland China, Hong Kong, Macau and other restricted jurisdictions
- K25.ai operations subject to market-specific legal, licensing and regulatory requirements
News Market Reaction – NIVF
In the May 21 session, NIVF gained 51.54%, reflecting a significant positive market reaction. Argus tracked a peak move of +87.2% during that session. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. Trading volume was exceptionally heavy at 34.2x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 04 | Earnings and strategy | Positive | -1.2% | Reported FY 2025 profit, asset growth, IP acquisition, and buyback authorization. |
| Apr 01 | Annual report filing | Neutral | -4.4% | Filed 2025 Form 20-F, enhancing disclosure and regulatory transparency. |
| Mar 02 | Health initiative MOU | Positive | -5.7% | Signed MOU for regional women’s health awareness and education campaign. |
| Feb 24 | Strategic progress recap | Positive | +1.5% | Outlined diversification, net assets of US$28M, token plans, and repurchase. |
| Feb 04 | Tokenized bond launch | Positive | -30.4% | Activated commitment campaign for inaugural tokenized real estate bond. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive strategic and financial updates have often been followed by negative price reactions, indicating frequent divergence between news tone and short-term moves.
Over the past several months, NewGenIVF has highlighted balance sheet strength and diversification. Fiscal 2025 results showed total assets of US$32.7 million and net profit of US$9.9 million, driven by a US$19.2 million bargain purchase gain and an IP asset valued at US$17.9 million. The company also authorized a US$2 million share repurchase and advanced tokenized real estate bond initiatives. Despite these milestones, four of the last five news events saw negative next-day price moves, underscoring a pattern of weak short-term reactions to seemingly constructive announcements.
Key Terms
prediction market financial
information market financial
reverse takeover financial
public-market transaction financial
Nasdaq requirements regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Nasdaq-listed NIVF has made an initial
NIVF has made an initial
The strategic relationship brings together K25.ai's AI-powered prediction and information market platform with NIVF's Nasdaq-listed public-market platform, regional network and APAC commercial presence. NIVF is supported by a renowned family-backed shareholder base and brings public-company governance connectivity, capital markets visibility and regional business relationships that may support K25.ai's next stage of development.
Building the AI-Native Watch-to-Predict Category
K25.ai is building a new category at the intersection of artificial intelligence, live streaming, creator monetization and prediction-based information markets.
The platform is designed to allow users to watch, engage and predict around real-time content, including sports, esports, entertainment, creator challenges, cultural events and other APAC-relevant moments in permitted markets.
K25.ai's AI layer is intended to support the prediction market lifecycle, including event discovery, market generation, live content understanding, data extraction, outcome monitoring and resolution workflows. This enables creators, communities and event owners to launch more timely, relevant and scalable prediction events around live content.
Led by Tech Veteran Andy Cheung
K25.ai is led by Mr. Andy Cheung, a veteran technology and digital asset executive with extensive experience scaling high-growth platforms across Web3, fintech, consumer internet and digital advertising.
Mr. Cheung previously served as COO of OKEx (now OKX), where he helped build and scale one of the world's leading digital asset exchanges. He also served as CEO of Groupon Hong Kong. In addition, he was previously an Independent Director and Digital Asset Treasury (DAT) Architect of Prenetics Global Limited, a Nasdaq-listed health sciences company, where he supported the development of its digital asset treasury strategy and Web3 capital markets positioning.
"Since the early days of exchanges, the biggest challenge has always been making market products simple enough for mainstream users," Mr. Cheung added. "User behavior has evolved from using search engines to social media to LLM, yet the core human need remains unchanged: people crave better ways to discover information and understand what is truly real. We believe AI and live streaming represent the next major frontier. K25.ai is not aiming to be another exchange or online gaming site. We want to become the Google and Meta of this new era. Just as Google transformed how the world discovers information and Meta redefined how people connect and share reality, K25.ai is being built as a new information market layer, where quantified consensus through AI-powered predictions and live streaming empowers millions to discover truth in real time."
Strategic Investment from Nasdaq-Listed NIVF
Through the partnership, NIVF is expected to support K25.ai's commercial development across
In connection with the strategic relationship, K25.ai's co-founders, including Mr. Andy Cheung, will join NIVF's board of directors. The board appointments are intended to strengthen alignment between K25.ai and NIVF, support deeper strategic collaboration between the two parties, and provide K25.ai with enhanced public-company governance connectivity as it advances its AI-powered prediction and information market platform.
The partnership is intended to provide K25.ai with strategic capital, regional commercial support, enhanced governance connectivity and broader public-market readiness over time.
"We see K25.ai as a generational opportunity at the intersection of AI and prediction markets," said Mr. Siu Wing Fung Alfred, Chairman and CEO of NewGenIVF. "Andy's track record at OKX, Groupon, and Prenetics combined with the explosive growth of this sector, makes this one of the most compelling strategic investments we've evaluated. We're committed to supporting K25.ai's path to becoming a publicly listed category leader in APAC."
Public-Market Vision
K25.ai is building toward a long-term vision of becoming a public-market category leader in AI-powered prediction and information markets.
As prediction markets increasingly converge with AI, live content, creator communities and real-time information signals, K25.ai believes there is an opportunity to establish one of the first publicly visible platforms in the category with a focus on permitted APAC markets.
K25.ai may evaluate potential public-market pathways over time, including a strategic transaction, reverse takeover or other public-market structure, subject to applicable laws, regulatory review, Nasdaq requirements, market conditions, shareholder approvals where required and execution of definitive documentation.
No assurance can be given that K25.ai will pursue or complete any public-market transaction, reverse takeover or strategic transaction, or that K25.ai will become publicly listed.
Market Opportunity
K25.ai believes APAC remains meaningfully underserved by existing prediction market platforms, particularly across localized sports, esports, entertainment, creator-led content and culturally relevant regional events.
By combining AI-assisted market generation, live streaming, creator-led distribution and APAC-localized content, K25.ai aims to transform live streaming from a passive viewing experience into an interactive information market where audiences can participate around live outcomes and creators can unlock new forms of engagement and monetization.
Based on selected publicly reported valuation references for larger global prediction-market companies and internal management analysis, K25.ai's
Geographic Restrictions
K25.ai is not offered to
K25.ai's products and services will only be launched or made available in jurisdictions where such activities are legally permitted, and, where applicable, subject to required licensing, registration, regulatory approvals or exemptions.
About K25.ai
K25.ai is an APAC-focused AI-native live streaming and watch-to-predict platform. The platform combines real-time content, creator communities, AI-assisted event generation and prediction markets to transform live streaming from a passive viewing experience into an interactive information market.
Through K25.ai, users can watch live content, follow creators, participate in community discussions and engage with prediction events linked to real-world outcomes, sports, esports, entertainment, creator challenges and culturally relevant APAC events in permitted markets.
K25.ai uses AI-assisted tools to support event creation, content analysis, data extraction, outcome monitoring and resolution workflows.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include statements regarding NIVF's initial
These forward-looking statements are based on current expectations, estimates, projections and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These risks include market conditions, regulatory developments, competition, execution risk, user and creator adoption, platform engagement, financing risks, Nasdaq compliance requirements, shareholder approval requirements, the ability to exercise the option on expected terms or at all, the ability to complete or implement commercial partnerships, the ability to complete or maintain board appointments, the ability to pursue or complete any future public-market pathway, strategic transaction or reverse takeover, geographic restrictions and other risks.
K25.ai undertakes no obligation to update any forward-looking statements, except as required by applicable law.
Contacts
K25.ai Media Contact
media@k25.ai
K25.ai Investor Relations Contact
ir@k25.ai
K25.ai Partnership Contact
partnership@k25.ai
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