Polygen (PGEN), a “completely decentralized” launchpad, has announced the specifics of a strategic funding round led by a number of leading venture capital institutions.
Polygen, which is working on a decentralized cryptocurrency tokensale platform (launchpad), has completed its strategic investment round, according to a press statement.
#Polygen enables a truly decentralized fundraising platform encouraging innovation and experimentation in the blockchain space.⚡ Want to know more about us?Subscribe to our #Medium to stay in the loop: https://t.co/YFCJ3lvNHw#Launchpad #DeFi #Crypto pic.twitter.com/0EByaaAJ8T— Polygen (@Polygen_io) October 31, 2021
A total of $2,300,000 has been raised from a group of well-known investors. This fundraising round was headed by SL2 Capital, with participation from 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital, and Pluto.
Iconomy, Insignius Capital, NetZero Capital, Maven Capital, Woodstock Capital Fund LLP, Sky Man Ventures, Lumos labs, Moonboots Capital, Storna Finance, Extra Watts, LD Ventures, Keys Investment, LucidBlue Ventures, Biconomy, GSR, and Amplio Capital also participated in the round.
One of the most prominent investors in the Polygen (PGEN) investment round, Insignius Capital, emphasizes that the firm aims to tackle critical difficulties in the contemporary tokensale scene:
Insignius Capital is excited to embark upon this journey with Polygen. The current lack of transparency and decentralization shouldn’t be the norm for launchpads. As such, we are committed to supporting Polygen in bringing decentralization and efficiency back to the launchpad sphere. We look forward to a positive collaboration with the highly regarded Polygen team.
Polygen CEO Mike Hepburn is certain that plenty of products will leverage its architecture upon launch to organize transparent and noncustodial tokensales:
I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. Furthermore, I believe Polygen represents a step-change in launchpad fundraising with Projects able to raise funds with complete freedom to innovate and experiment.
As a result, the project is working on a decentralized launchpad that will allow any project to gather cash.
Polygen will begin its launchpad with its own PGEN coin and five further items. Polgen plans to have 50+ permissionless launches and a decentralized KYC module by Q1 2022.
