Cosmochain attracted the equity investment equivalent to 300 million KRW from Kailin Investment

Cosmochain, providing a blockchain-based beauty SNS platform service ‘COSMEE,’ which is the first DApp partner of Kakao’s Klaytn, attracted equity investment from Kailin Investment, a global investment company. Kailin Investment is a Hong Kong-based global investment company well-known as the initial investor of Xiomi, a global smartphone manufacturer.

Recently, Kailin Investment invested in Cosmochain with the amount of $30M (equivalent to 300M KRW) as an equity investment. This investment is meaningful because it is an investment in equity, not ICO participation. The fact that a blockchain project attracted an equity investment implies that Cosmochain is now valued highly from a long-term perspective. Meanwhile, Terra and Maker also got equity investment. Cosmochain plans to establish a domestic subsidiary of Cosmochain in order to facilitate the process of attracting equity investment.

A Kailin Investment official said, “This investment was done to acquire equity after ICO, as a long-term investment in COSMEE because it has a high potential to penetrate further in the beauty industry.”

Cosmochain is currently in the process of attracting additional investment from global institutional investors who were not able to participate in ICO before. Investors will buy COSM in circulation at a market price.

Meantime, Cosmochain launched COSMEE pilot service at the end of August. In late October, there was CP/COSM swap in order to incentivize users actually with tokens during the pilot period. Moreover, COSMEE ranked first in terms of DAU among all Ethereum-based DApps. Cosmochain will make COSMEE a DApp providing a real service by adding data solution feature for cosmetics companies.

— by Hankyung News Team (newsinfo@hankyung.com)

Original Article: http://news.hankyung.com/article/201810313459a

For more details about Cosmochain and COSMEE, please visit the websites below.

COSMEE: https://cosmee.co/

※ The contents above contain information subject to change or yet to confirm under the contract. Also, It serves no purpose of recommending or attracting investment in Cosmochain project and is exclusively for sharing information. Accordingly, any results from making a decision based on the contents as a reference are the responsibility of the decision makers themselves. In other words, the Cosmochain Team holds no legal responsibility for any damages, losses or other results.

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Cosmochain Web: https://cosmochain.io

COSMEE Web: https://cosmee.co/