Wootrade announces strategic investment from 9 major VC Firms, led by Fenbushi Capital and Chain Capital
As the excitement builds towards the WOO token pre-sale, we are proud to announce that Wootrade has continued its fundraising round by securing the investment of 9 major venture capital firms. The announced list includes Fenbushi Capital, Chain Capital, One Boat Capital, Vector Capital, AKG Ventures, Evernew Capital, Krypital Group, Axia8 Ventures, and The Cabin Capital. In addition to simply providing investment, these institutions will assist Wootrade with the development of the platform and ecosystem.
Fenbushi Capital is one of the most established blockchain-focused VC firms in Asia. Boasting Ethereum Co-Founder Vitalik Buterin as an advisor, Fenbushi has a long history of identifying valuable startups and upcoming projects in the blockchain and cryptocurrency space. Other companies in their portfolio include key industry players such as Polkadot, Circle, The Block, and VeChain. Chain Capital, another driving force in Asia’s blockchain scene, has previously backed innovative platforms such as OmiseGo, EOS, Polkadot, IPFS, and Blockstack.
The quantity and diversity of investment institutions announced this time are a real statement of Wootrade’s strengths as a project and as a team. Wootrade CEO and co-founder Jack Tan stated:
“Wootrade is equivalent to a “Layer 1” for cryptocurrency trading and investing, and it will bring sweeping improvements to trading execution and the user experience on both centralized exchanges and Defi platforms. We appreciate the support of these leading institutions, and believe that the addition of these strategic investment partners is verification of the demand for Wootrade’s offering.”
Less than 6 months after the launch of the platform, Wootrade has already onboarded more than ten exchanges and institutional clients. Included among them are One Boat Capital and Vector Capital, who have both experienced and benefited from the depth of liquidity and the zero-commission fees that the Wootrade platform can provide.
Looking ahead to the future, Wootrade plans to provide clients with their upcoming on-chain node program. Clients who hold WOO tokens will have the opportunity to tap into the innovative revenue-sharing model on the platform. This will further incentivize institutions to support Wootrade’s development by galvanizing their role as both investors and clients.
In Q4 of 2020, the WOO token presale will be an important step in uniting the Wootrade ecosystem and community. WOO tokens will act as the carrier of platform value and rewards and will be fairly distributed to clients, nodes, and retail token investors. AKG Ventures and Axia8 Ventures will be involved in the design of the token economy and the construction of the ecosystem, Evernew Capital and The Cabin Capital will help in expanding the Chinese market, and Krypital Group will support the acquisition of overseas clients.
More announcements regarding the completion of the fundraising round will be released soon.