Built on Telos Blockchain, TAIKAI Raises €2 Million in Institutional Seed Funding Round
Venture Capital to fuel expansion in Europe and South America, as well as for development of hiring features
LONDON, Sept. 14, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) – Hackathon management platform TAIKAI, built on Telos, which runs the judging and paymenone of the most active and high capacity blockchain networks, announced it has raised €2 million in an institutional funding round to fuel its international expansion in Europe and Brazil and the development of hiring solutions for companies and startups. In a strategic move, the funding round was led by Germany based FinLab EOS VC Fund, as TAIKAI uses EOSIO. Early investor Bright Pixel and new investor Portugal Ventures also participated in the funding round.
The Telos network provides TAIKAI, a blockchain-based voting mechanism, that enables competition evaluation to be fully transparent and audible by any stakeholder. Also, as part of the partnership, TAIKAI joined the Telos Boost Accelerator program, thereby getting assistance in technical implementation, marketing, and business development from the Telos Foundation.
“We congratulate TAIKAI for raising €2m in funding for their innovative project and cannot wait to see where they grow from here,” said Douglas Horn, Chief Architect of Telos. “We are glad that the governance capabilities of Telos can support so many projects like TAIKAI.”
Mario Alves, co-founder and CEO of TAIKAI, sees this round as an opportunity to create a strong ecosystem of innovation. “TAIKAI has been receiving support from the community since its inception and has already helped more than 100 global companies solve their innovation challenges. Now it is time to go further and have a wider impact on businesses, addressing two of their most urgent needs – innovation and recruitment. That is why we will launch in September an acceleration program for startups.”
The Portugal-based startup caught the C3 Management attention due to the use of their technology, but also to their potential of disrupting the hiring processes across the world.
Founded in 2018, TAIKAI started as an open innovation platform, helping Portuguese companies reach new solutions and products through challenges to a community of developers, designers, and others.
The pandemic brought them new opportunities since the lockdowns and remote work boosted the online format. Challenges can now address the needs of any company around the world and the solution can be developed by any innovator around the world too. Therefore, TAIKAI has grown and turned into a global open innovation platform with a community of more than 50,000 innovators. It also became a highly relevant, attractive pool of talent, which led to the company’s next step: disrupt hiring processes. The funding round will support the international expansion and the development of hiring features.
In order to do that, TAIKAI will grow its development, marketing and sales team to 24 people until the end of 2021. To learn more about work opportunities, please visit https://taikai.network/en/careers.
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ABOUT TELOS
Telos is a high-capacity network and one of the most active blockchain platforms in the world according to Blocktivity. Telos features a robust, third-generation blockchain governance system including advanced voting features and smart contracts that can be fully configured to meet the needs of any developer. Created by developers, for developers as a global grassroots project, Telos is one of the most decentralized blockchain platforms in existence. Telos Decide™ extends the chain’s state-of-the-art blockchain and governance features to all DApps on its platform, delivering the best user experience in the marketplace. Telos also supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through community voted development grants. For more information, please visit telos.net.
ABOUT TAIKAI
TAIKAI, founded in 2018, has the focus to create a talent marketplace to connect creators and companies, by crowdsourcing solutions for their challenges, using hackathons as a tool to find, test, validate new ideas, products and talent globally. Think Tinder for innovation and talent seeking.
MEDIA CONTACT: Ana Pedro, ana.pedro@thesquare.pt
ABOUT C3 MANAGEMENT AND FINLAB EOS VC FUND
C3 Management GmbH is an asset management company focused on managing venture funds which invest in exceptional blockchain technology companies worldwide. C3‘s mission is, among other things, to accelerate growth, development, and especially adoption of EOSIO-based blockchains and the EOSIO software. Towards this mission, C3 manages the FinLab EOS VC Fund, which is partly funded by Block.one and offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. The EOS VC Fund focuses on early and growth stage technology companies and typically takes a minority equity stake. C3 operates worldwide and is located in Frankfurt, Germany.
ABOUT BLOCK.ONE
Block.one is an asset holding and investment company that creates, incubates, and invests in businesses that build trust in transactions, transparency in systems, and efficiency in how our world works. Through strategic capital allocation and pioneering business ventures, Block.one has funded more than 100 innovative entrepreneurs to date. Block.one is also the creator of EOSIO, a highly performant open-source blockchain software, built to support and operate safe, compliant and predictable digital infrastructures. For more information, please visit Block.one.
ABOUT BRIGHT PIXEL
Bright Pixel is an investment vehicle, founded in April 2016, with several mechanisms through which it actively supports and invests in early-stage projects of a technological nature. Among them, the 8 million euros fund, launched to invest in startups with operations centered in Portugal, stands out.
ABOUT PORTUGAL VENTURES
Portugal Ventures, a venture capital firm that is part of Portuguese promotional bank Grupo Banco Português de Fomento, has more than 140 portfolio companies and €184 million under management. It invests in startups in the pre-seed, seed and series A stages offering innovative solutions and with the potential to internationalise their business in the Digital, Engineering & Industry, Life Sciences and Tourism sectors. Since 2012, Portugal Ventures has already invested €171 million in 180 new companies. To learn more, visit portugalventures.pt.
All product and company names herein may be trademarks of their registered owners.
CONTACT: Transform Group telos@transformgroup.com
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