Advanced Blockchain Incubation Quasar Raised $6M in Seed Funding
DGAP News: Advanced Blockchain AG / Keywords: Cryptocurrency / Blockchain/Extension
Advanced Blockchain Incubation Quasar Raised $6M in Seed Funding
29.07.2022 / 09:36
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) announces that incubation Quasar raised $6 million from several well-established VCs. The round was led by Polychain Capital and Blockchain Capital, along with Figment Capital, Lightshift Capital and Galileo.
Moving forward, Quasar will operate as an independent entity following Advanced Blockchain AG’s efforts to accelerate the initial phases of project growth, led by former project manager and now CEO, Valentin Pletnev. Quasar is now working towards the testnet launch, which is scheduled for the first week of August. Quasar reacquired the entire set of intellectual property created together with Advanced Blockchain’s incubation arm; AB.Labs and settled initial incubation costs for its independence.
“Following our successful seed funding round, we would like to thank our investors for the faith they have shown us. Quasar is already operating independently and we are grateful for all the support Advanced Blockchain has given us. We are especially excited for what is to come. testnet is launched and look forward to play a significant role in shaping the future of DeFi.” -Valentin Pletnev, CEO of Quasar
“Quasar has been operating as an independent entity since May. It has been a pleasure working with Valentin to accelerate his original concept, and we wish Quas the best of luck in its upcoming testnet and full-feature release.” -Simon Telian, CEO of Advanced Blockchain AG
About Quasar
Quasar makes digital asset management easy, accessible and secure. The Quasar team has designed a platform to easily create and join Quasar Vaults – independent asset containers equipped with IBC technology, enabling cross-chain value capture in the Cosmos ecosystem and beyond.
Quasar democratizes DeFi by making it fair, simple and transparent. Quasar’s platform and vault make DeFi investing easy for traders, while lowering the barriers to entry into vaulting for strategists. For more information about Quasar, please visit www.quasar.fi
About Advanced Blockchain AG
Advanced Blockchain AG (Scale, Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive team of analysts, developers, programmers, economists and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in various ecosystems and markets in the industry.
For more information about Advanced Blockchain AG, its various projects and investments, please visit https://www.advancedblockchain.com/.
29.07.2022 Dissemination of a company news, transmitted by DGAP – a service from EQS Group AG.
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