Bitcoin Startup Incubator Seedcoin Raises 2,000 BTC for Second Funding Round

Virtual bitcoin incubator Seedcoin has announced its 2nd funding round for bitcoin startups.

Seedcoin is the world's first seed-stage Bitcoin startup virtual incubator. Photo: Seedcoin

Seedcoin is the world's first seed-stage Bitcoin startup virtual incubator. Photo: Seedcoin

Seedcoin is the world’s first seed-stage Bitcoin startup virtual incubator. The aim of Seedcoin is to incubate and fund the creators of cryptocurrency related products and services, providing instructions to businessmen all over the world throughout the initial stage of product development.

Moreover, Seedcoin plans to fund at least 15 bitcoin startups in the first year round.

The Seedcoin Fund 1 (SF1) was launched on bitcoin securities platform Havelock Investments in December, listing seven different startups from various countries.

The second funding round called Seedcoin Fund 2 (SF2) will also be filed with Havelock Investments, a bitcoin investment platform. Similarly to the first funding round,  there are 7 startups. SF 2 includes BTN Inc., Quantave Limited, Global Coin FX, Ignite Financing Limited, leading global platform for travel & leisure BTC trip, BiTnews Media Limited and TagPesa Limited.

The BTC inc (Bitcoin Transaction Network) offers a big range of bitcoin transaction services such as ATM, Prepaid, e-wallet, BTC exchange facilities and other transaction processes. The company wants to set up a global network of partners.

Quantave limited will provide institutional traders with the quantitative analysis via API. The company will also offer a free trading platform.

Another company, Global Coin FX (GCFX), a UK-based virtual currency exchange, allows its users to safely buy and sell digital currency. A new company, Ignite Financing, is offering specialized leasing for Bitcoin ATMs.

BTCTrip is a global platform for leisure and travel that accepts digital currency, including Bitcoin, as a payment method. With BTCTrip you can make hotel reservations, rent a car, book a flight and so on. The sixth company is BiTnews Media, a media platform focused on a big range of decentralized technologies.

Seedcoin gave 250 BTC each of these six companies. While the seventh will be given only 150 BTC. TagPesa is an exchange and remittance firm, focused on remittances in Africa and further afield.

A More Diverse Offering

The SF2 is more diverse that the last funding round (SF 1). It has various business companies, such as financing or media firms, as well as a company that focuses on traveling.

“When we started Seedcoin last July, most of the startups contacting us were exchanges, payment processors and wallets,” said Eddy Travia, co-founder of Seedcoin.

Travia added: “We were pleased to help these essential elements of the bitcoin ecosystem infrastructure, but now we are approached by entrepreneurs not necessarily from a crypto or tech background.”

Initially, the launch was expected to occur in March, however due to some issues Seedcoin postponed the date.

Travia said: “There are many elements to our involvement with the startups. We prefer to confirm and make sure all parties are in agreement before listing. Dealing with seven new startups is not a small task, even for the three of us.”

Unlike SF 1, no more startups will be added by SF 2 as the list of the companies has been finalized.

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