KR1 plc - Investment Update: Moonbeam Network
PR Newswire
London, April 6
6 April 2021
KR1 PLC
("KR1" or the "Company")
Investment Update: Moonbeam Network
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that Moonbeam ("GLMR"), a portfolio project of KR1 and one of the most prominent projects building on Polkadot, has completed a successful US$6 million strategic funding round led by CoinFund alongside Binance Labs and ParaFi Capital. The round included participation from Coinbase Ventures, Fenbushi Capital, IOSG Ventures, and all previous seed investors.
KR1 is pleased to announce the Company's participation in this recent funding round, investing a further US$150,000 into Moonbeam in exchange for 30,000.00 GLMR tokens. This investment comes in addition to KR1's seed round participation, announced in October 2020. Across both funding rounds, the Company now holds a total of 130,000.00 GLMR.
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and dApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot.
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
"We're very excited to follow on our initial investment, as Derek and the whole Moonbeam team have shown huge progress. Moonbeam is now well positioned to come to market as one of the most anticipated networks building on Polkadot. Another major indicator of their success is the number of other projects integrating with Moonbeam already, including some of the best-known platforms in DeFi."
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
| KR1 PLC George McDonaugh Keld van Schreven Simon Nicol | +44 (0)16 2467 6716 simon@KR1.io |
| Peterhouse Capital Limited Mark Anwyl Allie Feuerlein | (AQSE Corporate Adviser) +44 (0)20 7469 0930 |
| Nominis Advisory Ltd Angus Campbell | (PR Adviser) pr@KR1.io |
About KR1 plc
KR1 is a leading digital asset investment company supporting early-stage decentralised and open source blockchain and DeFi projects. Founded in 2016 and publicly traded in London on the Apex segment of the AQSE Growth Market (KR1:AQSE), KR1 has built a notable reputation for generating significant returns by investing in many key projects that are designed to power the decentralised platforms and protocols that are emerging to form new internet infrastructures.
www.KR1.io
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms part of retained EU law (as defined in the European Union (Withdrawal) Act 2018).
