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GloryFinance and Korean Technology Venture Capital Sign a $3.5m Seed Round Investment Agreement

PRESS RELEASE. Early Jan 2023, in GloryFinance’s Development office, the Project’s Core team and representatives from one of the top Korean Technology Venture Capital has signed in a seed round funding investment agreement with a value confirmed to be USD 3.5M.

The funding will be under the form of Equity acquisition while further details of the deal are not mentioned due to confidentiality.

GloryFinance (token: GLR) is a newly launched DeFi project whose mission is to make DeFi adoption accessible for everyone and accelerate Blockchain’s applications sustainably across industries through Infrastructure development solutions.

GloryFinance business model spins around its Ecosystem including 3 pillars:

  • Glorify: DeFi cross-chain application with UI innovation
  • GloryLabs: Blockchain as a Service (infrastructure development)
  • Glory Academy powered by Tech Education partner spinUp

According to Glory Finance’s representatives, the investment fund will assist the Project’s growth in the global market over the next 3 years, strategically focused on hiring global tech talents and developers for GloryLabs – the blockchain infrastructure development & enablement entity.

“Glory Finance leadership team is very delighted and confident in this strategic partnership with our new Investor whose portfolio has spanned across deep tech areas such as Data Center development, Smart City/IoT infrastructure, AI and Blockchain in the global market. While we have quite a number of other blockchain specialized Venture Capitals interested in our business, we believe partnering with cross sector VC will provide us the opportunity to connect with exceptional entrepreneurs, tech experts and other partners globally. It aligns perfectly with our mission for a sustainable and inclusive future of blockchain applications.” – Said James, spokesman and Co-founder of GloryFinance

In a call with news.bitcoin.com, Glory Finance’s representative was excited to share their ambitious plan to engage with more of global blockchain & web3 VCs globally regardless of the bear market condition citing that bear markets can benefit venture capital firms because shakier markets lead to lower valuations and more attractive entry points for potential investors. The Project targets a total fund of USD 10M for the seed round.

GloryFinance’s team are engaging in this new journey after their first successful endeavor. The team has previously founded and led the development of a DeFi/Blockchain project to a fast growth and expansion under 1 year, totaling $110M in Locked Value (peak) and reaching $100M in MarketCap making the project top 300 projects worldwide on CoinMarketCap.
With GloryFi, the project aims to bring innovation and solve several main issues of the current Decentralized Finance services landscape with one goal is mind: Make DeFi available to everyone.

GloryFinance links:
Website: http://gloryfinance.io/
 Twitter: https://twitter.com/GloryFinanceio
 Telegram: https://t.me/GloryfinanceEn
 Discord: https://discord.com/invite/5hKbYyx3YX

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.



from Bitcoin News https://ift.tt/zlmnOwS
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