SmartUp, a blockchain incubation platform connecting global startups with investors and co-workers around the world, has secured US$5 million in funding from Blockchain Japan, a network of blockchain investors in Japan.
Hong Kong-based SmartUp will use the capital for early platform operation expenses. Additionally, Blockchain Japan will also introduce SmartUp to its members and match suitable projects with it.
Toshifumi Emoto, President of Blockchain Japan, said, “There are numerous quality blockchain projects in Asia. However, it is always challenging for them looking for funding and resources. SmartUp provides projects with technical support as well as one-stop incubating service.”
SmartUp aims to build a global blockchain incubating ecosystem to provide startups with one-stop access to incubating services including support, consulting, lead investing and financing. It has introduced a smart credit checking system to help investors analyse tens of thousands of projects from around the world, global resources matching for professionals with different areas of expertise and lead investment and global fundraising.
In addition, all transactions will be kept on blockchain so they can not be modified, and investors can choose to use the SIT (strategic investor token) cryptocurrency to invest and settle service fees.
Ric Wu, Founder of SmartUp, said, “We shall match the project with appropriate and quality resources, and eventually bring the project to the global stage. We are looking forward to more collaboration with Blockchain Japan, not limited to incubating more quality projects, but also increase the awareness of regional market on blockchain technology applications.”
ValueCoin, a blockchain-powered international trading platform based in Tokyo, is the first startup to be incubated by SmartUp. The startup is owned by FCO International, with the technical support and funding from Blockchain Japan. ValueCoin is the blockchain project to facilitate global transactions and promote blockchain tech in the organization. The project team is based in Tokyo, Japan.
“SmartUp integrates resources for projects and provides accurate funding record for investors, which hugely reduces transaction cost. ValueCoin owns a membership base of more than 56 million, and its participation to SmartUp has provided an ideal choice to investors,” Wu added
Zuo Peng, CEO of FCO International, said: “Blockchain application is becoming popular in Japan. We share the vision of SmartUp and we are looking forward to apply ValueCoin and its blockchain applications in international trading. The participation to SmartUp incubator will help us getting international resources and partners to promote the said applications to improve business efficiency. Looking ahead, we shall work closely with Mr Wu and his team for bring ValueCoin to the global market.”