Polygen (PGEN), a "fully decentralized" launchpad, shares the details of its strategic fundraising round supported by a number of top VC foundations.
Polygen raises $2.3 million, SL2 Capital led the round
According to a press release shared with U.Today, Polygen, which addresses the building of a decentralized cryptocurrencies tokensale platform (launchpad), has completed its strategic funding round.
#Polygen enables a truly decentralized fundraising platform encouraging innovation and experimentation in the blockchain space.— Polygen (@Polygen_io) October 31, 2021
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A total of $2,300,000 is secured from a clutch of high-profile investors. SL2 Capital led this funding campaign, while 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital and Pluto also took part in the funding.
Apart from these teams, the round was supported by Iconomy, Insignius Capital, NetZero Capital, Maven Capital, Woodstock Capital Fund LLP, Sky Man Ventures, Lumos labs, Moonboots Capital, Storna Finance, Extra Watts, LD Ventures, Keys Investment, LucidBlue Ventures, Biconomy, GSR and Amplio Capital.
A representative of Insignius Capital, one of the most reputable investors behind the Polygen (PGEN) funding round, underlines that the company strives to solve crucial issues on the modern tokensale scene:
Insignius Capital is excited to embark upon this journey with Polygen. The current lack of transparency and decentralization shouldn't be the norm for launchpads. As such, we are committed to supporting Polygen in bringing decentralization and efficiency back to the launchpad sphere. We look forward to a positive collaboration with the highly regarded Polygen team.
"One-stop" decentralized launchpad without censorship
Polygen CEO Mike Hepburn is certain that plenty of products will leverage its architecture upon launch to organize transparent and noncustodial tokensales:
I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. Furthermore, I believe Polygen represents a step-change in launchpad fundraising with Projects able to raise funds with complete freedom to innovate and experiment.
As such, the project is on its way to launching a decentralized launchpad that would allow every project to raise funds.
Polygen is going to start its launchpad from its own PGEN token and five more products. By Q1, 2022, Polgen is planning to have 50+ permissionless launches and a decentralized KYC module.