Samsung-backed Startup Raises $30ML for Its End-to-End Blockchain

Blockchain-based crypto startup AERGO has fundraised $30 million in its token sale from such big investors as Arrington XRP, FBG, GBIC, and Sequoia. The last one is known for investing in Apple, Google, PayPal, Oracle, Instagram and WhatsApp, according to the official statement.

AERGO is crypto startup that is supported by a Samsung-backed enterprise blockchain service Blocko. The startup aims to develop a new blockchain protocol and take Blocko’s battle-tested tech to the brand new level by morphing it into an entire end-to-end open-source blockchain platform.

In its announcement, AERGO states it succeeded to receive approximately a billion dollars in allocation requests during the whole sale, though they accepted only $30 million.

It’s far from the first investment by Samsung in crypto space. Previously, Dap­per Labs, the com­pany be­hind the pop­u­lar in crypto in­dus­try dApp Cryp­toKit­ties succeeded to at­tract $15 mil­lion in fi­nanc­ing led by Ven­rock (for­merly Google Ven­tures) and Sam­sung NEXT.

Despite the bear crypto market, more and more crypto startups just begin their journey.

Earlier, Myth­i­cal Games, a crypto-re­lated startup based on EOS blockchain net­work fundraised $16 mil­lion in Se­ries A fund­ing from such well-known in crypto industry names as OK­Coin and Galaxy Dig­i­tal’s EOS VC Fund.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.