The geodata startup Cloudeo plans to raise funds through an ICO using its own blockchain token. The Munich-based company is also planning an IPO.
Cloudeo collects data from various satellite providers and makes it available to its customers. The satellite data is then used in agriculture, logistics, gaming, and IoT companies, among others. With its offering, the Munich-based company has last summer already raised 2.4 million euros in a Series A round collect. How startup scene reported, Cloudeo recently raised 5 million euros in a pre-IPO round at a valuation of 41.5 million euros from unnamed investors from America and Europe.
Cloudeo plans to issue shares and tokens
Also according to startup scene The company is now planning both an IPO (initial public offering) and a capital increase via blockchain (ICO). According to the report, the startup plans to list on the Toronto Stock Exchange and issue a blockchain token in the first half of the year.
The IT industry association Bitkom apparently sees great potential for ICOs in the future and recently demandedto ensure legal certainty for venture capital financing via blockchain in Germany. According to Bitkom, policymakers should refrain from excessive regulation. The costs for this new form of financing should remain significantly lower than, for example, a traditional IPO.
