Cargo transportation “Uber” service IMMLA to raise $38 mln in crowdsale
The IMMLA consortium, which is comprised of leading logistics services and IT companies such as SBSolutions, Formag Forwarding and experts from Hellmann Worldwide Logistics, announced the new ICO parameters on 5 September 2017.
IMMLA, the decentralized logistics service, will hold the ICO on 15 September 2017. The service will significantly increase the level of safety and control over transportations at the global level. IMMLA has the world’s best team of experts in logistics and IT, who have developed the leading ERP-solution Logismart. Step-by-step IMMLA team will create a multimodal blockchain forwarder based on the Logismart solution and the Ethereum blockchain.
The logistics market capacity amounts to $8.1 trillion, where logistics outsourcing is approximately $760 billion. IMMLA is about to earn 1% of the cost of transportation serviced, which is a revolutionary low price for a high-quality and safe forwarding service.
The ICO will last for 30 days and during this time period investors will have a chance to buy 434,477,177 IML. As for 6 September 2017, the total amount of attracted resources is 122,888 ETH or about $40 million. The sale will take place among 4 lots, where each lot will be approximately 2.5% more expensive than the previous one.
The maximum number of IML tokens will be around 550,688,952 IML. Further on, the IMMLA service will automatically use 36% of the proceeds to redeem and burn IML tokens. In such a way, the number of IML tokens will be reduced over some time and the demand will drive the price to grow.
Safe ICO
There are two possible scenarios in relation to smart contracts that are issuing IML tokens:
1) If the ICO succeeds, the IMMLA founders will receive 10% of the tokens that will be in turn frozen for 5 months. During this time, IMMLA is going to start servicing the first commercial transportation in the autotruck services market;
2) In case less than 18,000,000 IML tokens will be placed, the raised ETH will automatically return to the investors.
Use of funds
The funds raised during the ICO will be directed for the launch of a road and sea freight module in 2018. Hence, there will be a phased development and introduction of new modules into the service every 9 months: “air” and “customs” in 2019, “forwarding” and “warehouse” in 2020, and “railway” in 2021. In case there will be more access to the expert knowledge and budget, some of the modules may be launched earlier.
Each module will include 5 components:
· Web service and interface
· Delivery analysis service (DAS)
· Document management service (DMS)
· Delivery tracking service (DTS)
· Blockchain
Focus on the Asian logistics market
Having observed the progress in the development of blockchain technologies logistics in the Asian Region, IMMLA has rescheduled the service launch in China and its neighbouring countries two years earlier from 2021 to 2019. Moreover, the working strategy has changed towards the one with maximum localization and adaptation to the local market as well as aggressive marketing.
The working strategies in other regions remain unchanged. In 2019 IMMLA will begin to operate in the Eastern European market, in 2020 — in Western Europe, in 2021–2022 — in Africa and three regions of America. Although being very promising for IMMLA, the American continent is extremely competitive. On the other hand, the Asian region is more open. Therefore, the development in the region of Asia will allow a more rapid subsequent expansion into the markets of North and South America and Africa.
The updated IMMLA strategy will be presented in White Paper ver. 2.0 that will be published on 7 September. Furthermore, on 10 September the pre-alpha version of IMMLA will be presented.
IMMLA completed the Pre-ICO successfully. As a result, 92.3% of the proposed Pre-ICO tokens were sold; it became possible to raise more than $500,000.
IMMLA is an international multimodal logistics application based on the Ethereum blockchain. IMMLA mission is a safe and convenient interaction between the cargo owner and the carrier at all stages of the cargo transportation process. The new technology will dramatically reduce the number of the personnel involved in logistics planning, information barriers and legal costs.
The project details can be found in White Paper and IMMLA social media pages — Facebook, Twitter, Reddit, Medium, as well as in a specialized thread on Bitcointalk.org forum and on our Telegram channel.
