ICONLOOP Raises $8M in Series A Funding
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One of the largest South Korean blockchain ecosystems ICONLOOP (ICX) has raised over $8 million in Series A funding, an official release that was shared with iHodl states.

Among investors are Korea Technology Finance Corporation (KOTEC) and T.S. Investment. Having such a big investment, ICONLOOP will reportedly focus on the launch of its DID service ‘my-ID’ and expansion of ‘my-ID Alliance.’

As the press release states, in total 27 organizations, including banks, security firms, e-commerce companies, and manufacturing companies have made the decision to join the alliance.

Jonghyup Kim, CEO of ICONLOOP, says this investment shows that ICONLOOP’s blockchain technology and its marketability have been proven and the company "would take the responsibility to boost the vitality of the overall market as a leading blockchain company in Korea."

"ICONLOOP will continue relentless efforts to provide blockchain technologies and platform that can be implemented into the entire industry and help the general public embrace blockchain technologies, contributing to building a more convenient and trustworthy society," Jonghyup added.

Back in August, ICONLOOP signed a strategic Memorandum of Understanding (MOU) with Korea Productivity Center (KPC), the first educational consulting firm in Korea, to build a blockchain-based industrial ecosystem.

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