KR1 plc - Investment Update: Automata
PR Newswire
London, June 2
2 June 2021
KR1 PLC
("KR1" or the "Company")
Investment Update: Automata
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to announce that Automata ("ATA"), a portfolio project of KR1, has completed a successful US$2.4 million strategic funding round that included participation from IOSG Ventures and Jump Trading.
KR1 is also pleased to announce the Company's participation in this recent funding round, investing a further US$200,000 into Automata in exchange for 5,000,000 ATA tokens. This investment comes in addition to KR1's seed round participation, announced in March 2021. Across both funding rounds, the Company now holds a total of 15,000,000 ATA.
Automata Network is a decentralised service protocol that provides a privacy middleware layer for multiple platforms to achieve privacy, high assurance and frictionless computation.
The Automata team recently launched their first product 'Witness', an off-chain governance solution for voters that do not wish to reveal their identity while participating in governance at zero cost, which supports Ethereum, Binance Smart Chain, and other Substrate-based EVM-compatible chains.
In addition, Automata Network is also developing a 'Miner-Extractable-Value' minimisation solution, 'Conveyor', which aims to solve the front-running issues as it ensures that transactions are arranged in a way that makes it impossible for malicious actors to exploit other participants.
Keld van Schreven, Managing Director and Co-Founder of KR1, commented:
"From Automata's technical progress to the partnerships made one after the other with the industry leading projects, it is apparent that Automata has both the vision and the ability to execute. Our support of Automata Network speaks to our commitment to the sustainable development of a privacy-focused decentralised web, and we look forward to seeing more great work from the team."
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 APX 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).
