Disclaimer: The text below is a press release that was not written by Cryptonews.com.
AlgoBlocks raised USD 1.9 MM in its strategic and private funding, thanks to the addition of investors Draper Dragon and Kyber Ventures.
The total funding goal is to reach USD 2.3 Mil through raising an additional USD 400K in the public round through 2 market leading launchpads, Poolz and KrystalGo.
Public round fundraising with KrystalGO (April 07), Decubate (April 14) and Poolz (April 15). After the public round fundraising, it will be a simultaneous listing on MEXC and BitMart on April 19, 2022, 10:00 UTC.
The money raised will be used for product development and growth initiatives, such as partnership and technical integration with other protocols.
The Investors
- Draper Dragon is an early-stage venture capital fund focusing on cross-border tech. Its investments include Vechain, Ledger, and Thundercore, among others.
- Kyber Ventures is the investment arm of Kyber Network. They support entrepreneurs building the next giants of the decentralized world.
- Big Brain Holdings is the name behind Solana and the Graph. Its investment portfolio is at USD 15 million across over 50 projects.
- MEXC is a centralized exchange founded in 2018. AlgoBlocks has a standing agreement with MEXC for listing.
- Lancer Capital is a private equity firm for blockchains founded in 2017. It is known to be a backer of Polkadot.
Roadmap
The team at AlgoBlocks remains within schedule to achieve its goals in the first quarter of 2022. Its public round fundraising is expected to start on 07 April 2022. The public round fundraising is launching with and KrystalGo, Decubate, Poolz. Also, it will be listed on MEXC and BitMart.
With the availability of AlgoBlocks in these platforms, its reach will expand to bring seamless and beginner-friendly DeFi to more users. One of the core goals is to provide an avenue to discover, invest, manage and automate DeFi investments…
