EQS-News: Advanced Blockchain AG
/ Key word(s): Financing/Cryptocurrency / Blockchain
Advanced Blockchain: Portfolio company Panoptic closes $7 million new financing round and unveils multiple new product advancements prior to Ethereum mainnet launch
November 21, 2023 – Advanced Blockchain AG (“AB”, Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, announces that Panoptic, an incubation project and core portfolio holding of Advanced Blockchain, secured a substantial investment of $7 million from prominent investors and unveils multiple product advancements in preparation for its highly awaited Ethereum mainnet launch.
Just over one year after its establishment, Panoptic has achieved a successful seed funding round, raising a total of $11.5 million to date. This funding round is spearheaded by German based Greenfield Capital, with substantial contributions from HashKey, gumi Cryptos Capital (gCC), L1D as well as other influential pioneers in the blockchain industry. With the recent infusion of new capital, the company significantly increased its valuation, thus further adding value to Advanced Blockchain’s diverse investment portfolio.
Aside from the monetary value of the company, Panoptic’s team has released last month its smart contract code to its wider community. This crucial next step sets the stage for the eagerly awaited beta release, giving the community a chance to explore the fundamental features of the protocol and final product.
Simon Telian, CEO of Advanced Blockchain, comments: “Panoptic's innovation aims to bring decentralized perpetual options to the industry by building on top of Uniswap v3; the world’s largest decentralized exchange. We are proud to see one of our incubations reaching its high ambitious fundraising and product goals. With the backing of top-tier blockchain investors the team is on a strong growth path in becoming a true market leader”.
Important events for Advanced Blockchain in the 2023 financial year:
About Advanced Blockchain AG:
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
21.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||Advanced Blockchain AG|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1778329|
|End of News||EQS News Service|
1778329 21.11.2023 CET/CEST