Hivello Secures $2.5M Funding, Driving Blockchain’s Deep In Sector Adoption [Video]

Blockmate Ventures Inc CEO Justin Rosenberg and Hivello Chairman Domenic Carosa shared some exciting news with Steve Darling from Proactive. Blockmate Ventures’ subsidiary, Hivello Holdings, has successfully secured a further 1.5 million dollars after receiving strong interest from investors following the announcement of a 1 million dollar raise in December 2023.
The funding was secured as a Simple Agreement for Future Equity instrument fundraising round. Consequently once converted, the post-money implied valuation of Blockmate’s 67% stake is 6.7 million or 8.1 cents per Blockmate share1. Blockmate Ventures specializes in creating and nurturing fast-growing technology businesses, with a particular focus on cutting-edge sectors such as blockchain, climate, and energy storage.
This fundraising round represents a significant milestone for Blockmate Ventures, as it marks the first external raise for a venture built by the company. It serves as a testament to Blockmate’s dedication to developing solutions within rapidly growing sectors that have a positive global impact.
Hivello Holdings was conceptualized by Blockmate Ventures when it recognized an opportunity to harness the untapped computing power scattered around the world. The result is an innovative DePIN network that not only leverages underutilized computing resources but also provides internet users with a platform to generate passive income. The funds will primarily be allocated to engineering for product development and customer acquisition, supporting Hivello’s goal of making blockchain accessible to a broader audience.

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