Blockchain Startup Waves Seeking To Raise $120M USD For Vostok Project

Decentralized blockchain platform Waves is seeking to raise $120 million in the second round of private investment for its Vostok project.

Founded in Switzerland in 2016, Waves is a decentralized blockchain platform focusing on custom blockchain tokens operations. In early 2018, the company developed the Vostok project specifically for large enterprises and public institutions, to enable them to build the foundation of a next-generation digital infrastructure. In December 2018, Waves closed the first investment round for $120 million, which brought the total valuation of the Vostok project to $600 million.

In the second round of private investment, which will close on May 31, Waves said it plans sell 100 million VST at an estimated price of $1.20 – which represents 10% of the future issue. Therefore, up to $120 million will be raised at an estimated capitalization of $1.2 billion. The London investment group, Dolfin will structure and coordinate the deal.

Sasha Ivanov, founder and CEO of Waves Platform, said that the private blockchain platform Vostok will combine technological developments and innovations they tested when building the international Waves platform, with the advantages of other end-to-end digital technologies such as artificial intelligence (AI), Big Data analytics and the industrial Internet of Things (IoT).

“In each of our strategic markets, we are launching an integrator company, with the help of which an ecosystem of Vostok solutions will be built,” Ivanov said. “Second round investors will provide us with, among other things, opportunities to enter new markets.”

Last month, Vostok partnered with the National Center for Informatization (NCI), a subsidiary of Russian manufacturing giant Rostec, to develop blockchain solutions that NCI will implement in joint infrastructure projects, which is expected to exceed 1 billion rubles ($15M USD).

Source: Read Full Article