Fun

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

News Feed - 2023-02-17 09:02:06

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


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


  Tags in this story GloryFinance, Korean Technology Venture Capital


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. Media


Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. Bill Allows Russian Financial Platforms to Operate Blockchains, Issue Digital Assets FINANCE | 4 mins ago Moody"s Says Forex Shortages May Force Nigerian Central Bank to Delay Repaying Local Banks AFRICA | 2 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSquare Enix to Use Polygon’s Network in Symbiogenesis, Its Upcoming Web3 Experience Next articleCleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain Rigs More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

Optimism (OP) Faces Potential Decline To $1.80 — Analyst
Este artículo también está disponible en español. Optimism (OP) has experienced a market rebound in the past week gaining by 35.76% based on data from CoinMarketCap. The
After Defaulting Sri Lanka Plans to Print $2.8 Billion Worth of Rupees, Inflation Rate Expected to Top 40%
After Defaulting Sri Lanka Plans to Print $2.8 Billion Worth of Rupees, Inflation Rate Expected to Top 40% The government in crisis-stricken Sri Lanka has said it will print more m
ETF Hopes Propel Litecoin 12% Higher, Bullish Predictions On The Cards
Este artículo también está disponible en español. Following its price increase of more than 12% in the past week to roughly $71.50 on October 16, Litecoin (LTC) is attrac
Germany’s largest federal bank to offer crypto custody services: Report
Zoltan Vardai34 minutes agoGermany’s largest federal bank to offer crypto custody services: ReportThe Landesbank Baden-Württemberg will start offering crypto custody services to institutional clients starting from the
Binance revamps VIP Invitations Program to entice traditional asset traders
Savannah Fortis9 hours agoBinance revamps VIP Invitations Program to entice traditional asset tradersThe new Binance initiative extends its VIP program to traditional asset traders, aiming to bridge the gap between crypt
Ana Paula Pereira2 hours agoCoinbase domain name reportedly used by scammers in high-profile attacksTwitter users have been sharing security incidents surrounding the crypto exchange, including claims that scammers are u
Ethereum Targets Dec. 4 for Istanbul Mainnet Activation
Ethereum’s next system-wide upgrade, Istanbul, is scheduled to arrive on mainnet the week of Dec. 4. The decision was made during an ethereum core developer call on Oct. 25. Later
Bitcoin.com Announces Cooperation Agreement With Japanese Media CoinOtaku
Bitcoin.com Announces Cooperation Agreement With Japanese Media CoinOtaku PRESS RELEASE. Bitcoin.com, the go-to web portal for everything bitcoin, announced it r
Analysts expect Bitcoin price recovery after Fed leaves rates unchanged
Nancy Lubale5 hours agoAnalysts expect Bitcoin price recovery after Fed leaves rates unchangedBitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.33
Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price Predictions
Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price Predictions Digital currency markets have been consolidating since the initial price drop on February 26 t
On-chain data — The missing link in Web3 advertising
Gareth Jenkinson10 hours agoOn-chain data — The missing link in Web3 advertisingWeb3 advertising platform Addressable is tapping into AppsFlyer’s mobile analytics to improve marketing for mobile applications.292 Tota
Arijit Sarkar15 minutes agoBitcoin miner mulls refunding 20 BTC reward to PaxosChun’s reservations about whether to return the funds to Paxos stems from him being “annoyed” that “the person claiming it (the funds