Synnax Secures Strategic Investment from Wintermute Ventures and TON Ventures
Synnax is thrilled to announce the successful completion of a strategic funding round, raising $550,000 from both Wintermute Ventures and TON Ventures. This brings Synnax’s total fundraising to $1.55 million.
The new capital will fuel the continued development of Synnax’s flagship Credit Intelligence protocol and its Telegram mini-app — SynQuest, which, in its first 2 weeks since launch, has attracted over 250,000 users.
Wintermute, a leader in algorithmic trading with extensive expertise in digital asset lending, shares Synnax’s vision for a decentralized, transparent, and open digital asset credit market. Wintermute’s extensive trading experience and its role in incubating lending platforms, give it unique insights into borrowing and lending. As the investment arm of Wintermute, Wintermute Ventures is an ideal strategic partner for Synnax.
TON Ventures, the leading investor of The Open Network (TON) ecosystem, represents one of the world’s fastest-growing blockchain projects. Integrated with Telegram’s vast user base of over 950 million, TON is rapidly expanding its reach and impact within the blockchain world. With the launch of SynQuest on TON, and the rapid growth of Synnax’s Telegram-based community, TON Ventures represents an ideal strategic partner for Synnax.
Robert Alcorn, Co-Founder and CEO of Synnax, commented:
“We couldn’t have asked for better strategic partners than Wintermute and TON Ventures. Their expertise aligns perfectly with Synnax’s vision, and we are thrilled to collaborate with both teams to drive innovation forward.”
Synnax harnesses decentralized AI to power its revolutionary Credit Intelligence protocol. By offering unbiased, predictive financial forecasts for both public and private companies, the platform brings a new era of credit ratings to the Web3 space. Synnax’s global network of data scientists leverages machine learning algorithms to predict financial performance using historical financial data and live macroeconomic and blockchain data.
SynQuest, Synnax’s Telegram mini app, gathers community sentiment data to enhance financial predictions. This data, combined with macroeconomic and blockchain insights, helps data scientists improve the accuracy of their financial models, and provides additional external revenue streams for Synnax.
Joscha Kuplewatzky, Wintermute Ventures, said: “We invested in Synnax because we believe that their innovative approach to credit intelligence has the potential to completely revamp the credit ratings industry. By sourcing predictive credit analytics from decentralized sources, they are not only allowing investors to see credit metrics in real-time but are also eliminating any bias from the rating process. This shows that Synnax is at the forefront of revolutionizing credit intelligence.”
Ian Wittkopp, TON Ventures, said:
“We are excited to invest in Synnax as they build mini-app experiences that leverage Telegram & TON’s social graphs to produce real time sentiment data, rewarded and incentivized via TON’s blockchain rails. TON is the place where builders come to build sustainable Web3 businesses and the ability to better understand potential customer segments strengthens this vision.”
About Synnax
Synnax is transforming the world of credit ratings through its decentralized Credit Intelligence platform, leveraging a decentralized network of cutting-edge machine learning models to predict financial outcomes with greater accuracy. The platform is designed to offer deeper insights into both public and private companies, making it a powerful tool for investors and businesses alike. Synnax is backed by leading global investors including Wintermute Ventures, TON Ventures, No Limit Holdings, Bitscale Capital, Ryze Capital, Kinetic Capital and many more.
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About Wintermute Ventures
Wintermute Ventures is the investment arm of Wintermute, a global algorithmic trading firm, liquidity provider, and leading OTC desk in digital assets. Drawing from Wintermute’s expertise in pioneering DeFi trading and powering liquidity across the entire ecosystem, Wintermute Ventures is uniquely positioned to back early-stage Web3 projects with hands-on support. Focused on long-term growth, the company takes a flexible approach, investing from early ideation to later-stage expansion. Committed to developing strategic relationships and driving positive outcomes, Wintermute Ventures prioritizes decentralized ownership, ensuring its investments align with the company’s broader vision of a decentralized future. Since 2020, it has invested in over 100 projects.
About TON Ventures
Ton Ventures , the leading venture firm of the TON ecosystem, is on a mission to invest in and accelerate innovative projects within the TON ecosystem, driving sustainable development across the industry. Ton Ventures collaborates with visionary founders to create lasting value for the TON community.
