Week Ending 11.18.18

 

ELASTOS PLANS BETA ROLLOUTS EARLY NEXT YEAR
DATAMETREX AI UNIT SCRAPS REVERSE MERGER
HSBC JOINS AXONI SERIES B
AND MORE ↓

 
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EYE ON A.I. GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.


 

OUR LATEST EYE ON BLOCKCHAIN CONTENT

Elastos, the Singapore-based blockchain company, plans to roll out beta versions of a smartphone browser and sidechain operability in January or February of next year, according to Clarence Liu, vice president of development. Read our complete story here.


MERGERS AND ACQUISITIONS

Apis Capital Management, the West Palm Beach, Florida-based hedge fund, said its newly launched private equity fund, Apis Ventures, acquired the blockchain intelligence and analytics unit from White Company, a payments firm. Terms weren’t disclosed.

Apis Ventures is focused on AI and machine learning. In June the fund launched the Apis token on the Stellar Blockchain after raising USD 1.7m in a pre-sale. Token investors will earn a return from the company's volatility fund.

Datametrex AI, the Toronto, Canada-based company operating AI and blockchain businesses, said its subsidiary Ronin Blockchain, a cryptocurrency mining firm, is scrapping a USD 19.2m reverse merger with Toronto, Canada-based Cluny Capital because of market conditions.

Other deals include Atlas Blockchain and APPx


FILINGS

Silvergate Capital, the La Jolla, California-based operator of Silvergate Bank, and shareholders are raising USD 50m in a follow on. The bank’s services are mostly targeted at the cryptocurrency industry.

ICOX Innovations, the Carson City, Nevada-based blockchain services company, said shareholders may raise up to USD 3.5m from the sale of shares they hold in the firm.


FUNDING

A-Nex, the Berkeley, California-based cyrptocurrency exchange, started a pre-sale for an initial coin offering attempting to raise as much as USD 50m. Read the white paper here.

Axoni, the New York City-based blockchain company, said HSBC has joined an upsized USD 36m Series B. Axoni said it August it raised USD 32m in a Series B led by Goldman Sachs and Nyca Partners. Andreessen Horowitz, Citi, Franklin Templeton, JP Morgan and Wells Fargo also participated. The company has developed technology for the credit derivatives market.

KuCoin, the Singapore-based cryptocurrency trading platform, raised USD 20m in a funding round using KuCoin tokens from IDG Capital, Matrix Partners and an investment fund run by NEO, the blockchain company.

SinglePoint, the Phoenix, Arizona-based investment firm, said it has arranged USD 5m in funding from an existing shareholder that was not identified. SinglePoint has investments in blockchain, cannabis services and mobile payments.

In August the company said it was planning to begin making larger acquisitions now that it has become a reporting company, allowing it to potentially acquire companies more cheaply, according to comments from CEO Greg Lambrecht.

TranslateMe, the Port Louis, Mauritius-based company using AI in language translation, said it is raising USD 1m in a private initial coin offering. Read the white paper here.

DataArt, the New York City-based software developer using blockchain, raised an unspecified amount from EU-backed private equity firm Da Vinci Capital.

Other deals include Havven, DLTa21 and CityBlock


LEGAL & REGULATORY

CarrierEQ (Airfox), the Boston, Massachusetts-based microlender, and Paragon, the Los Angeles, California-based cannabis company using blockchain, were fined USD 250,000 each by the US Securities and Exchange Commission for arranging unregistered initial coin offerings.

US Securities and Exchange Commission statement on recent blockchain enforcement actions here.


PEOPLE

COBINHOOD, the New York City-based cryptocurrency exchange, said it hired former Microsoft executive Jill Shih as CEO.

Ideanomics (formerly called Seven Stars Cloud), the New York City-based AI and blockchain services firm, said Executive Chairman and co-CEO Bruno Wu is stepping down.

Alex Yao will take over as chairman of the board and Brett McGonegal will become CEO. McGonegal joined in September and was co-CEO with Wu. Wu will remain as special advisor to the board and is the company’s largest shareholder through Sun Seven Stars, the media and investment company. Yao is the CEO of Sun Seven Stars' digital finance arm.

HBUS, the San Francisco, California-based cryptocurrency trading platform, said it hired Jay Ryu as vice president of corporate development. Ryu was a director at venture capital firm Draper Athena.

Last month HBUS hired former Google executive Tiffani McCoy as general counsel.

Other hires include Byzen Digital

Board appointments include AirTM and Graph Blockchain


DATA

No data sets we are tracking were released.


EYE ON BLOCKCHAIN GETS READERS UP TO DATE ON THE LATEST FUNDING NEWS AND RELATED ISSUES. SUBSCRIBE FOR THE WEEKLY NEWSLETTER.