Premiere DEX NASDEX Successfully Raises $1.1 million with 16x Oversubscribers

By Stan Peterson
Published August 23, 2021 Updated August 23, 2021
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Premiere DEX NASDEX Successfully Raises $1.1 million with 16x Oversubscribers

By Stan Peterson
Published August 23, 2021 Updated August 23, 2021

NASDEX, a DEX for tokenized assets currently in the seed funding stage has made headlines by raising $1.1 million as 16x oversubscribed its recent private investment round. The company provides decentralized exchange similar to UniSwap and SushiSwap that are recognised as the leader of this category.

The recent NASDEX seed funding round was led by the next-gen innovation Venture Fund called Plutus VC. Plutus VC was also joined by Firefly Capital, Rio Fund, NexusBlock, Catcher VC, Zero2Launch, and some other participants. The strategic funding will help NASDEX to finish development works and reach several of its milestones quickly. NASDEX came into existence this year and has been incorporated in Singapore. Since its establishment, it has grabbed the attention of many innovation funds active in the relevant sector. The company has several team members working across the globe remotely. The goal behind NASDEX is to provide its users a trustworthy platform that connects them to equities through crypto. Investors would be able to buy/sell tokenized equities assets in the form of crypto through NASDEX’s 24/7 serviceable platform.

Ken Ng, Partner at Firefly Capital, a London-based entity that invests in the growth of companies that are functional in asset management, commercial property, and financial technology, mentioned that “NASDEX is a name that’s easily remembered. And a name for the future of tokenized assets.”

Being a decentralized exchange, NASDEX would also offer functionalities like crypto trading, shares (fractionalized buying), and yield farming. Through promising iterations, NASDEX wants to take the decentralized exchange giants like PancakeSwap, Bancor, Balancer, KyberSwap, etc head-on.

Stacy Meng, Partner at RioFund, a Canadian investment firm that focuses on technologies and market opportunities that bring growth and value creation across several verticals of the relevant market said – “RIO FUND envisages tremendous opportunities presented by the tokenization of real-world assets. We believe it’s perfect timing for NASDEX to bring equities on-chain and expand into new frontiers such as the Asian equities market.”

Some of the participating investors of NASDEX’s recent strategic funding round were VC elites who got prioritized because their reputation could add to the worth of the decentralized exchange project in the long run. Around 20 of these exclusive VC investors will enable and commit to the company’s ideas and objectives. The 20 VC investors also include Plutus VC, Firefly Capital, Rio Fund, Zero2Launch, and NexusBlock.

Stefan Rust, General Partner at Plutus VC which is known to support and invest in several leading innovative tech companies and recently participated in the venture round of KingSwap, said – “We are proud to be an investor of the future for tokenization of assets — NASDEX. A great team and we are bullish for its future. Definitely hodling this one for the long term.”

Since May, the volatility of the crypto market has been severely high due to the considerable market correction. Given the inevitable and difficult environment for crypto and blockchain-based projects, NASDEX’s latest private funding round went on successfully and got 16x over subscribers quickly.

This indicates the growing level of interest in this project after August. For now, the funds raised seem sufficient to let the company proceed with its series of developments and prepare for a public IDO round in the future.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Stan Peterson
592 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.

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