Ember also raised funds from Growth Technology Partners through David Weisburd, as well as Kleiner Perkins. Other participants in the sale included Gil Penchina of Flight Ventures, the junior venture syndicate that also invested in the Ripple and LinkedIn blockbuster. Ember Fund offers pre-verified crypto portfoliosĮmber Fund managed to raise $591,000 on the Republic investment platform through the sale of SAFE securities as part of a crowdfunding project that closed on March 31st. “We will be aggressively deploying this capital on customer acquisition and building out the smart contract technology that powers the Ember app,” said Wang. The company, which launched its services last year, is also looking to develop its smart contract technology to power the application. Wang added that the platform would seek to deploy the new capital on its customer acquisition programs. “Our initial goal was only to raise $500,000, but we increased allocation because as the sale went on, we saw new growth channels to deploy capital,” Ember co-founder and CEO Alex Wang said. The fund decided to increase the allocation due to the presence of “new growth channels to deploy capital.” However, he noted that the target amount shifted during the sale. The initial goal of Ember Fund was to raise $500,000Īccording to the company’s CEO, Alex Wang, the company’s goal was to raise $500,000. Our team of journalists brings you the most important news so you can stay on top of the market. The start-up organized and held the fundraising in accordance with the SEC’s Reg CF, a regulation that allows registered companies to raise a maximum of $1.07 million over a 12-month period.ĭiscover more news about startups with rising potential and read the latest economic news with the Born2Invest mobile app. The campaign was carried out in compliance with the rules set by the US Securities and Exchange Commission (SEC). ![]() ![]() Ember Fund, a crypto investment application available notably in the UK and the US, raised funds under a crowdfunding scheme.
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