Alternative Investment Fund (AIF) Manager Olymp Capital announced via a press release published in PRNewswire on September 17 that the firm had joined in a $1.5 million funding seed round for IoT firm Nodle.io. Joining in the funding are other big-name investors such as Blockchange Ventures, which led the investment round, as well as Blockhead Capital, Bootstraplabs, Mark Pincus with Work Play Ventures and Yeoman’s Capital.
Christophe de Courson, CEO and Co-Founder of Olymp Capital talked about the firm’s investment in Nodle, saying:
“The development of IoT solutions with blockchain enables greater efficiencies for developers and investors, and the Nodle team has created an ingenious platform for scaling IoT. The Nodle architecture is lean, infinitely expandable, and is an ideal blockchain use case.”
Nodle works with developers, consumer electronics manufacturers and telcos to let mobile phones become part of a decentralized infrastructure that can support hundreds of thousands of transactions per second. The firm can monetize their applications via the Nodle SDK and earn the company’s cryptocurrency, dubbed the NODL Coin, helping the network grow. Nodle is working on making remote mining of cryptocurrencies more accessible on smartphones. Before the advent of Nodle and its Citizen Network of connected devices, mining coins on a smartphone would end up draining the battery, cause overheating and slow down of the mobile device’s CPU.
Micha Benoliel, the Co-Founder and CEO of Nodle.io gave their take on the investment, saying:
“We are pleased to have experienced blockchain experts as investors, including Olymp Capital, whose founding team we have known for years. We look forward to working with our new investors to help grow the Nodle Citizen Network and expand the world’s largest crowdsourced IoT network.”
Olymp Capital recently launched the first European investment fund to cover the entire blockchain and cryptocurrency ecosystem.
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