10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Tezos-Based Application ecoo Secures 1.1 Million USD In Series A Financing Round With Strategic Investors

ecoo has already been used by two Swiss cities to distribute Covid relief funds, and last year ecoo won 3 awards in the “Best of Swiss Apps Awards”. Now, it has secured 1.1 Million USD in a Series A financing round with strategic investors.

ecoo Secures Funding From Strategic Investors

ecoo offers users to create conditional tokens that can be tailored to specific user needs. It has already been used by two Swiss cities to distribute Covid relief funds, and last year ecoo won 3 awards in the “Best of Swiss Apps Awards”. 

ecoo allows users to create tokens that can be distributed and can subsequently only be used at specific events, businesses, or partners. A wide variety of use-cases can be catered this way:

– Tourism: guests can pay with «Tourism Coins» at selected shops, railways, and businesses

– Events or festivals, where visitors pay with coins, while the partners, e.g. a catering stand, collect the event currency via the app

– Companies that want to give their employees meal vouchers not only for the canteen, but also for the nearby bakery or the pop-up restaurant on the corner

– Health insurances that credit the insured with “Health Points” that can be redeemed at selected partners. This simplifies the organization of partnerships in the health sector, for example in the area of ​​health promotion.

ecoo is deployed on the Tezos blockchain and has already been successfully used in the Swiss city Wetzikon which issued Tezos-based tokens “Wetzikoins” through the ecoo app to support local businesses with Covid relief funds. This application was covered on national Swiss news channel SRF

In July this year, the Swiss municipality of Erlenbach was the second Swiss authority that used ecoo to distribute Covid relief funds.

“The idea for this voucher came from the population. It was important to the community to help local businesses suffering from the corona pandemic. The residents of Erlenbach can decide for themselves which businesses they would like to support with the community vouchers.” – Sascha D. Patak, Mayor of Erlenbach 

With the series A funding round concluded, ecoo is ready to scale up. During the financing round, which was lead by Eagle Venture Fund, ecoo was able to agree deals with several strong partners, including MICA Ventures in Wollerau, nezzo Holding in Risch-Rotkreuz, HR Campus in Dübendorf and 8FS in Pfäffikon.

Six private and institutional investors also participated. The bulk of the capital generated will go towards developing the sales side of the business at ecoo.

ecoo also recently appointed Dr Sebastian Hersberger as CEO. Sebastian Hersberger is a lecturer at the University of Basel and boasts many years of experience in management consulting, banking and working with start-ups.

He has considerable expertise in the areas of payments and fintech and has built up a sizable network of contacts during his career.

“Unlike many start-ups, we already have a fully functional, tried-and-tested product. Our aim for the next 12 months is to implement as many strategic engagement projects as possible, targeting exciting brands, organisations and cities,” – Dr Hersberger 

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Banner Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: pdf, doc, docx, Max. file size: 128 MB.
Submit Article: Suitable Formats = PDF, WORD
By Uploading an article, you are accepting all to all copyright and information that is to the best of your knowledge true and accurate.

Other News

View More

Tezos X: A Vision for the Future of Blockchain

Today, Tezos X has been unveiled, presenting a forward-looking vision for Tezos that marks a significant evolution from its original design. According to the official blog, this vision addresses some of the most fundamental issues in the blockchain space, aiming to enhance usability and utility while maintaining the core properties of blockchain technology.

Read More

Werenode: Fusing Blockchain Brilliance with EV Charging Innovation

As electric vehicles (EVs) become more prevalent, Werenode is leading the charge by revolutionizing the EV charging infrastructure through blockchain technology. By leveraging Tezos and Binance blockchain technology, Werenode aims to simplify the EV charging process, ensuring secure, transparent, and immutable transactions. Their approach tackles key challenges in the industry, such as network fragmentation, interoperability, and complex payment systems.

Read More

Tezos Community Prepares for Launch of tzBTC 2.0 on May 27th

The Tezos ecosystem is gearing up for the anticipated launch of tzBTC 2.0 on Monday, May 27, 2024, at 12:00 pm UTC. This development follows a successful keyholder session, where all necessary signatures were obtained, and backup flows were tested.

Read More