Blockchain technology investment company, Coinsilium Group, has raised £187, 985 gross of expenses through the issue of 18,798,500 ordinary shares. At one pence per share, it was supported primarily by existing shareholders and its current directors.

The funds raised will be utilised for general working capital purposes and for new initiatives within the blockchain sector. Eddy Travia, Chief Executive Officer at Coinsilium, states: “We are delighted to see the continued support of our existing shareholders and all current directors in the current fundraising. Businesses worldwide are now starting to recognise the potential of blockchain technologies and their capacity to improve lives and generate significant cost savings through enhanced business efficiencies. We also fully expect blockchain technologies to open-up numerous new commercial opportunities. With that impact comes the chance for Coinsilium to generate asymmetric returns from making early stage investments in some of the most viable blockchain opportunities. We look forward to announcing some of the new initiatives we have planned over the coming weeks.”

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by IBS Intelligence