Funderbeam recently announced having closed an investment of $2.6m from prominent investors, including Tim Draper, Thomson Reuters and IQ capital. After this, Funderbeam has closed an add-on round from the crowd, and made the investments tradable on it’s own marketplace, so meta!
This news was originally published in Business Insider Nordic.
After the seed+ round was closed, Funderbeam opened up for investors from all over the world, raising a total of €4240.000 with investors from 28 different countries. What’s unique from a global perspective, is that all the investments are instantly trading on the blockchain – The first of it’s kind in the world.
When asked why Funderbeam opened the extra round, Founder and CEO, Kaidi Ruusalepp, is not focused on the extra capital, but on the vision of Funderbeam. She explains: “I believe that anyone, provided the right tools and guidance, can benefit from investing in early stage companies. This is what we are creating, and it felt natural to let all our early adopters, partners and supporters join this journey.”
Funderbeam allows trading by converting investors’ investments into tradable “tokens”. Buyers and sellers on the market can trade their tokens at any price they agree on, just like on a stock market. Which makes Funderbeam to be the first company that is operating “stock market” built on blockchain technology.
Funderbeam opened their market with the first companies trading in July, and since then, more than a million euros has been invested into four companies, and more than €40k has been traded.
Funderbeam’s “crowd” consists of investors from 69 countries, which aligns well with the stated goal of being a global platform for funding and trading early stage and growth companies.
From the carefully selected companies, there are two campaigns live on the platform. One is IPDx, a biotech company making affordable early testing for Type 2 Diabetes, and the other being the biggest accelerator in the baltics, Startup Wise Guys.
About IPDx, co-founder and head of business development, Urmas Peiker, says: “It is extremely rare to be able to offer investments in biotech companies, and we are extremely happy to give this opportunity to our users. Biotech is, of course, a complicated industry, which makes it a bit of an experiment to fundraise from the crowd.”
Startup Wise Guys is raising a round for their 8th batch of startups, and they are actually making history as being the first accelerator raising public funds and which investments (fund units) are becoming tradable.