Qulian to Raise $234M During Series B Funding Round

Qulian sets out to develop enterprise-grade solutions based on its hyperchain blockchain platform
05 June 2018   837

Chinese company Qulian Technology, which created the blockchain platform Hyperchain, announced the completion of the series B financing round, in which the company managed to attract 1.5 billion yen (234 million dollars). This is reported by Coindesk.

According to a statement that Qulian published on Sunday, Xinhu Zhongbao, a real estate and finance company, became the lead investor of the round. It announced it plans a week ago, on May 27, when it applied to the Shanghai Stock Exchange.

The document says that Xinhu Zhongbao intends to invest 1.23 billion yen ($ 192 million) in Qulian, which will be divided into 2 parts: $ 17 million will be directed to the authorized capital of the company, and $ 175 million to new shares. Thus, as a result of the transaction, the investor must receive a 49% stake in Qulian.

This is a business judgement made by the company and other co-investors based on a comprehensive evaluation of Qulian. There is a risk of a mismatch in (Qulian's) income and valuation.

Xinhu Zhongbao Team

Qulian was founded in 2016 and is developing corporate solutions based on its Hyperchain blockchain platform. According to the application of Xinhu Zhongbao, in 2017 Qulian's income was 281 thousand dollars, and net losses - 2.34 million dollars. The company itself is estimated at 234 million dollars.

Poloniex Wants to be Tron Super Representative

If the exchange will be elacted, it will be able to participate in the distribution of awards for one and a half million TRX daily
18 November 2019   86

The Poloniex cryptocurrency exchange this Monday announced the nomination of its candidacy for the role of validator in the blockchain project system TRON.

If successful, the exchange will be able to participate in the distribution of awards for one and a half million TRX daily. At the time of publication, she ranks 92nd in the general list of candidates with 32,626 votes, while the last super-representative in the 27th position has 262,320,639 of them.

Some time before, Poloniex opened several trading pairs for the TRX exchange and announced an official collaboration with Justin Sun's project.