GROS-ISLET, St.Lucia, April 26, 2021 (GLOBE NEWSWIRE) — Launch X, a decentralized multi-chain, governance-based IDO Launchpad, led by Marshland Capital, Magnus Capital and Valaren Ventures, has successfully completed a private funding round of $600k.
The raise was supported by a star-studded cast of reputable VC’s, including Moonrock Capital, Ascensive Assets, Morningstar Ventures, Genblock Capital, Raptor Capital, Moonwhale Ventures, AU21 Capital, x21 Digital, DWeb3, and Vendetta Capital.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/874546e0-2596-4fcb-9ecd-da7d5ff7d8b0
Launch X is a cross-chain, B2B ecosystem that gives startups the flexibility to raise capital in a decentralized manner across multiple blockchains and aims to be a partner at the forefront of the Binance Smart Chain economy.
Alex Smith, the Managing Partner at Moonrock Capital, had this to say about the project:
“The partners at Moonrock Capital are delighted to be collaborating with the talented team at LaunchX. LaunchX, a multi-chain decentralized IDO launchpad platform, provides a seamless all in one cryptocurrency service. The governance model particularly resonated with MRC as it allows for a truly transparent and fair listing process. Providing the ability for startups to launch on any blockchain, LaunchX is developing a unique DAO protocol never seen before. MRC did not hesitate to invest in LaunchX as we believe that this technology will be the forerunner for all future launchpads.”
David Marshall from Marshland Capital also commented on Launch X:
“Launch X represents a real opportunity to create a paradigm shift in fair and transparent public launches. WIth the vision of multi cross-chain platform listings, integrated staking, and NFT offerings, this truly offers something very exciting. What makes this most appealing, however, is the long term vision that is supported by the DAO and advisory board structure. Bringing high level leading lights within the blockchain space together with leaders in the traditional Fintech global banking, commercial banking, and investment space. Supported by leading lights in talent acquisition, marketing agencies, and global technology giants make this project so much more than what’s available right now. Very excited about the future of Launch X.”
The public IDO for Launch X is envisioned to take place in early May. Launch X aims to provide the ability for startups to launch on any blockchain starting with BSC and ETH with plans to support Solana and Polkadot later this year. Details for upcoming IDO and whitelist will be released on the Launch X medium in the near future; regularly check into their socials to remain updated.
The funds raised during this investment round will be used to further develop the Launch X platform, ensuring it is fully functional and ready for users. The development of the platform will involve the completion of the website and finalizing the development of the Launchpad where new projects can join and register for funding. The Launchpad is the main feature of Launch X, further details regarding the enlisting criteria will be provided on the platform.
These funds will also be used to market Launch X further so the platform can attract users and more partners. Without these, it is hard for a new project to make any steps and grow in the industry. From the current investors attained from this funding round, Launch X can make connections with various players in the crypto space, to allow strong partnerships that can shape the platform.
About Launch X
Launch X is a one of its kind Launchpad with a unique functionality and governance model previously unseen in the industry. The platform focuses on the issuance of tokens, cross-chain synthetic staking, interoperability and more exciting cross-chain features in development.
Launch X is based on the Binance Smart Chain, with full cross-chain integration to facilitate Ethereum tools and DApps, allowing projects built on Ethereum to be easily ported to BSC and gain access to a wider audience. Further cross-chain capabilities from leading chains are currently being developed; truly bridging the crypto-world in a novel way.
The Launch X governance model allows for a transparent and fair listing process, targeting innovative projects with strong prospects and robust teams, giving projects the possibility to gain access to an exclusive cross-chain Launchpad.
The fundamental core of the Launch X’s governance model is that users are given the opportunity to back the projects they want to see on the Launchpad with proposed projects thoroughly assessed and analyzed by industry-leading financial, marketing and legal specialists. This process strictly only allows for the strongest and legitimate projects with the highest potential to feature.
With the rise of popularity across multiple chains, Launch X provides a unique opportunity for projects on leading chains to gain access to a broader audience, raise capital and allow these projects to gain significantly larger exposure through multiple chains, previously unobtainable, with the combined result of overall positive growth.
More details about Launch X and its developments will be communicated through their official channels. Follow Launch X to remain updated and to learn more about the platform and their future developments!
Social links
Telegram: https://t.me/weLaunchX
Twitter: https://twitter.com/LaunchX
Medium: https://launchx.medium.com/
Media contact
Company: Launch X Limited
Contact Name: David
E-mail: admin@launchx.finance
Website: https://launchx.finance/
Address: Gros-Islet, St.Lucia
