Bluzelle raises $19.5 mln from initial coin offering

Bluzelle said it raised US$19.5 million from an initial coin offering.

The Singapore company said it generated 500 million tokens and sold 165 million, or a third of the total, to investors including Kenetic Capital, Hashed, Kryptonite 1 and 8 Decimal Capital.

It previously raised a US$1.5 million Series A funding in August 2017 backed by investors Global Brain, LUN Partners Capital and True Global Ventures.

Bluzelle is developing a decentralized database to address blockchain storage challenges. It was founded in Canada in 2014.

Photo courtesy of Bluzelle Networks Pte Ltd