DGAP-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Expansion
03.08.2021 / 08:50
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is pleased to announce that it has successfully opened a new office in Stockholm and signed a memorandum of understanding (MoU) with Sting, the leading accelerator in the Nordics.
To grow their reach in the Nordics, Advanced Blockchain has developed a partnership with Sting. Through this partnership, Advanced Blockchain AG will become the largest investment vehicle for the blockchain ecosystem in the Nordics. Together with Propel Capital, the investment arm of Sting and Sweden’s most active private seed investor, Advanced Blockchain aims to invest as early as possible in newly incubated blockchain projects.
Following his appointment as a member of the company’s Executive Board earlier this year, Simon Telian will also head the newly established partnership and act as a driving force behind the company’s Nordic expansion plans. Telian has extensive experience in European venture capital and was most recently responsible for the growth of a Swedish deep tech startup.
“This Nordic expansion will strengthen our ecosystem of co-investors and innovators in the blockchain space. At the same time, Advanced Blockchain and its underlying portfolio companies will be able to leverage their businesses through our strong regional network,” says Telian, Managing Director and Group Chief Investment Officer of Advanced Blockchain AG.
“We are proud to have signed this partnership with Advanced Blockchain AG, which will strengthen the value proposition to startups in the blockchain space in the Nordic region. We see many interesting applications for blockchain technology in several sectors and this partnership will add both competence and capital to these applications”, says Pär Hedberg, founder and CEO of Sting.
Similar to its partnership with SOSV, the ultimate goal for Advanced Blockchain’s collaboration with Sting is to identify strong teams with bold ideas who want to build impactful projects in the Web 3.0 ecosystem. DeFi (decentralized finance, the future of financial services), NFTs (non-fungible tokens, the future of digital ownership), as well as the tokenization of assets (making assets more accessible) are core areas where Advanced Blockchain plans to promote growth and further extend their portfolio. Details of the partnership are set to be announced in the upcoming weeks.
About Sting:
Stockholm Innovation & Growth (Sting) was founded in 2002 with the vision to become Europe’s most attractive and comprehensive ecosystem for tech startups. Their Accelerator Program has been named the Best Accelerator in the Nordics and the Main Runway for Startups in Stockholm. To date, Sting has secured over 750 million Euros in private and public financing, making it the most successful and fastest growing incubation firm in the Nordics.
More information can be found at https://sting.co/.
Additional information on Advanced Blockchain AG and its various projects and investments can be found at https://www.advancedblockchain.com/.
03.08.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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