A startup with Ukrainian roots Bitfury raised $80 million. It is called a blockchain-unicorn
Founded by the Ukrainian and the Latvian, the mining startup Bitfury attracted a new round of investments. According to the company, the amount of the transaction was $80 million. The value received as part of the transaction was not disclosed, but investors called Bitfury the “European blockchain unicorn”. Prior to this, according to Crunchbase, Bitfury raised a total of $90 million.
The round was headed by Korelya Capital European foundation, the Asian Naver Group, Macquarie Capital, Dentsu, the European Armat Group and Lian Group, the Russian iTech Capital fund and others also participated.
“Bitfury has grown from a small startup into the largest Western blockchain unicorn, with world-class leadership and expertise, consistently introducing innovative solutions across the entire blockchain ecosystem,” – commented Co-Founder and Managing Partner of Korelya Capital, Antoine Dresch.
According to Bitfury the Executive Vice Chairman George Kikvadze, the company’s revenues amounted to $500,000,000. He also added that the company plans to invest the funds raised in the new round into software and hardware development for government structures and corporations.
It is noteworthy that Bitfury was founded in 2011 by the Latvian, Valery Vavilov and the Ukrainian Valery Nebesniy. The company manufactures equipment and software for the mining of cryptocurrencies, including bitcoins, as well as working on blockchain technologies. Last year it revealed that a startup earns almost $100 million a year.