According to Forbes, Cobo, a Beijing-based developer of Blockchain-oriented products, has raked in a staggering $13 mln in a Series A funding round that was spearheaded by a major VC fund DHVC (Digital Horizon Capital). A cryptocurrency wallet with PoS mining rewards is Cobo’s main product that lured in the investors.
The fledgling startup, after successfully completing its first funding round, is now aiming for global expansion. On top of that, Cobo is going to use the raised money to sponsor its new product – Cobo Vault, the company’s foray into the hardware wallets market that is currently dominated by Trezor and Ledger Nano S.
As of now, the Cobo wallet has over half a million users with 30 available digital assets.
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