imToken, the blockchain tech startup and crypto wallet designer, announced today it has raised $30 million in Series B funding led by Qiming Endeavor Partners. Individuals consisted of returning financier IDG Capital, and brand-new backers Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and Liang Xinjun, the co-founder of Fosun International.
Established in 2016, the startup’s last funding announcement was for its $10 million Series A, led by IDG, in May 2018. imToken states its wallet for Ethereum, Bitcoin and other cryptocurrencies now has 12 million users and over $50 billion in properties are presently saved on its platform, with total deal value exceeding $500 billion.
The business was launched in Hangzhou, China, prior to moving to it present headquarters to Singapore, and about 70 % of its users remain in mainland China, followed by markets including South Korea, the United States and Southeast Asia. imToken will use its most current funding to build functions for”imToken 3.0.”This will consist of keyless accounts, account recovery and a suite of decentralized financing services. It likewise plans to expand its research arm for blockchain innovation, called imToken Labs and open offices in more countries. It presently has a group of 78 individuals, based in mainland China, the United States and Singapore, and expects to increase its headcount to 100 this year.
In a press statement, Qiming Venture Partners founding managing partner Duane Kuang said, “In the next 10 to twenty years, blockchain will change the monetary market on an international scale. Our company believe that imToken is riding this pattern, and has strongly positioned itself in the market.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.