Concordium Concludes $36 Million Fundraising 2 Months Ahead of Mainnet

Concordium Concludes $36 Million Fundraising 2 Months Ahead of Mainnet



April 27, 2021 – Zug, Switzerland

Privacy-centric blockchain, Concordium, has completed its fourth global private placement round of the cryptocurrency GTU. The funds raised will be used to finance the project’s further development, decentralization, mainnet launch and listing on crypto exchanges.

The private placement rounds have secured Concordium a capital injection of $36 million. The company valuation in the fourth round was $1.45 billion.

Concordium CEO Lone Fonss Schroder said,

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“In recent months, we have experienced great interest from companies and developers around the world. Concordium’s blockchain code has just become publicly available, enabling developers in general and RustLang developers, in particular, to create their applications on Concordium.”

The use of funds includes technical development of core protocols and tooling, which were announced in Concordium’s newest roadmap and specific features related to privacy and identity.

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