BY CNA Team - October 26, 2018
Spiking raises US$30mil in private token sale
Spiking, a Singapore-based startup that uses an app to track stock prices, has raised US$30mil in a private sale of an initial token offering.
It says in a press release that a blockchain asset validation and artificial intelligence-driven crypto trading infrastructure will be set up in Hong Kong from the proceeds of the sale.
The crypto trading infrastructure includes building a solution to track trades of cryptocurrency “whales” or holders of substantial crypto assets
The startup, founded in April 2016, had in August raised US$1.63mil from seed and pre-Series A funding rounds.
The latest investment was led by Dr Charlie In, the chairman of a diversified company with interests in segregated fund portfolio management, pre-initial public offering investments and wealth planning.
He will also take on an advisory role over governance, investment oversight and market access for Spiking.
“Spiking is well positioned to seize the untapped opportunities in the cryptocurrency market. In particular, Spiking understands the big whales by tapping into financial technology for stocks and blockchain technology for cryptocurrencies. This is a valuable resource for price analytics,” Dr In says.
The startup, which has a customer base of more than 180,000 traditional investors, says the public token sale will take place on Nov 22.
Its app tracking share prices covers six stock exchanges in the US, Singapore, Malaysia, and Hong Kong.
Investors in Spiking include Quest Ventures, CRC Capital, Mars Blockchain, J Capital, and Jove Capital.
Image courtesy of prnewswire.com