ImToken, the blockchain tech startup and crypto pockets developer, introduced at this time it has raised $30 million in Sequence B funding led by Qiming Enterprise Companions. Members included returning investor IDG Capital, and new backers Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and Liang Xinjun, the co-founder of Fosun Worldwide.
Based in 2016, the startup’s final funding announcement was for its $10 million Sequence A, led by IDG, in Might 2018. ImToken says its pockets for Ethereum, Bitcoin and different cryptocurrencies now has 12 million customers, and over $50 billion in belongings are presently saved on its platform, with whole transaction worth exceeding $500 billion.
The corporate was launched in Hangzhou, China, earlier than transferring to it present headquarters to Singapore, and about 70% of its customers are in mainland China, adopted by markets together with South Korea, the USA and Southeast Asia.
ImToken will use its newest funding to construct options for “imToken 3.0.” This can embody keyless accounts, account restoration and a collection of decentralized finance providers. It additionally plans to develop its analysis arm for blockchain know-how, known as imToken Labs and open workplaces in additional nations. It presently has a workforce of 78 individuals, based mostly in mainland China, the USA and Singapore, and expects to extend its headcount to 100 this yr.
In a press assertion, Qiming Enterprise Companions founding managing companion Duane Kuang stated, “Within the subsequent ten to twenty years, blockchain will revolutionize the monetary business on a worldwide scale. We imagine that imToken is driving this pattern, and has strongly positioned itself out there.”
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