AlgoBlocks raised $1.9 Millions in its strategic and private funding, thanks to the addition of investors Draper Dragon and Kyber Ventures. The total funding goal is to reach $2.3 Millions by raising an additional $400K in the public round through 2 market-leading launchpads, Poolz and KrystalGo.
Public round fundraising with Poolz and KrystalGo Launchpads will be launched on 07 April 2022. After the public fundraising round, it will be a simultaneous listing on MEXC and BitMart on 12 April 2022, 12:00 UTC. The money raised will be used for product development and growth initiatives, such as partnership and technical integration with other protocols.
- 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 in building the next giants of the decentralized world.
- Big Brain Holdings is the name behind Solana and the Graph. Its investment portfolio is at $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.
The team at AlgoBlocks remains within schedule to achieve its goals in the first quarter of 2022. Its public round of fundraising is expected on 07 April 2022. The public round fundraising is launching with Poolz and KrystalGo. Also, it will be listed on MEXC and BitMart.
With the availability of AlgoBlocks on 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 with personalized signals and strategies in one place.
The platform will embrace cross-chain services to bring various blockchains into one platform. It aims to support a flexible integration with the largest number of supported products.
As an all-in-one DeFi management platform, AlgoBlocks aims to simplify interacting with multiple DeFi protocols across different blockchains. Here is the summary of product features that AlgoBlocks will offer to DeFi users:
- All In one DeFi Dashboard, connect the wallet to view your DeFi portfolio.
- Intelligent and personalized signals system.
- Curated one-click investment option or DIY your pre-programmed trade.
- Marketplace, visit the marketplace to find curated DeFi Investment recommendations.
- Swap Assets, access multiple DEXes on a single page.
- Comprehensive Dapp and DEX search engine, from DEXes to NFTs.
- DeFi education portal with a gamified system encourages DeFi newbies to learn DeFi concepts and earn NFTs.
The team comprises CEO Joseph Kim, CTO Kareem Elshahawe, and CMO TN Ko. Joseph has over 13 years of financial services experience in and out of the blockchain and held senior positions at Citigroup and BC group. Kareem has over a decade of software engineering experience and held senior positions at Societe Generale and Datum Blockchain. Ko heads the marketing block with over eight years of experience in global marketing. He previously held roles in Crypto.com, BTCC, and Facebook.
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