Coinweb Closes Its Strategic Round Sale Backed By Leading Venture Capital Firms Around The Globe
After closing a private sale round of $3.5M in early 2021, Coinweb completes a heavily oversubscribed strategic round of $4M pre-public sales and listings.
Coinweb is pleased to announce its successful strategic funding round that led to a raise of $4M. Venture Capital firms and Strategic Partners include KuCoin Labs, Morningstar Ventures, Panda Capital, Shima Capital, Qi Capital, Vespertine Capital, Magnus Capital, Private Office International, DCI Capital, MM Ventures, 316VC, Contango Digital Assets, Master Ventures, and Kabaal.io (a subsidiary of the Klein Group). James Bowater, founder and Editor-at-Large of Crypto A.M., was also appointed as Coinweb's ambassador.
The decision to hold a strategic round – after being, in large part, a self-funded project for the past 4 years – came as a consequence of the first part of the platform being launched on Mainnet beta and the importance of community growth and education amongst the targeted audience, now that demonstrable technology had been delivered. All onboarded partners will be playing an important role in helping to create awareness and convey accurate technical information to their communities whilst serving as advisors for Coinweb’s growth.
“We really appreciate the tremendous support that we have received and would like to extend a warm welcome to all our partners. It is rewarding to see the commitment and hard work that the team has put in for the past 4 years really start to pay off” stated Toby Gilbert, CEO of Coinweb.
Lou Yu, the head of KuCoin Labs said, “Coinweb ticks all the criteria that we, at KuCoin Labs set for projects. No doubt they are technologically innovative with tangible products and business models, we also foresee a long-term, in-depth partnership with them. We are pleased to be part of the family and we look forward to seeing Coinweb's technology being the forerunner of unifying blockchain’s interoperability.”
"Coinweb offers an expanded solution space and reduced platform risk for dApps in respect to interoperability and computation functionality, in comparison to earlier work by other projects,” said co-founder of MM Ventures. “We are excited to join the project as a strategic investor, and we look forward to supporting Coinweb on their mission to drive greater adoption of blockchain technology.”
“At Contango, we believe the future will be multi-chain, which is why we are so excited about the innovative solutions being built by Coinweb. By coupling properties, functionalities and data from multiple blockchains, Coinweb has introduced the new frontier of DeFi and cross-chain development. We believe this secure interoperability will open Pandora’s box to an explosion of high performance, low-cost dApps, and we are excited to play our part in that development,” Mike Grantis of Contango Digital Assets commented.
With the closure of this strategic round, Coinweb's next step will be an Initial DEX Offering (IDO) public sale on a soon-to-be-announced launchpad.