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Chinese Blockchain Platform Developer Qulian Technology Raised $234M in Series B Round

By on June 4th, 2018 at 6:32 pm UTC · 3 min read

The company working in the sphere of enterprise level blockchain solutions has performed one of most successful traditional financial funding rounds in blockchain sphere.

Blockchain News, News
Photo: Pixabay
Photo: Pixabay
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Initial Coin Offering is a progressive way of building capital that has already ensured the welfare of hundreds of blockchain-based projects. However, traditional funding rounds should not be written off – and the recent $234 million funding round of Hyperchain Technologies is a good proof of this statement.

Hyperchain Technologies Co., Ltd is not a novice in the market. This leading enterprise level blockchain platform has a lot to offer to the modern business. The scope of the project is wide: the list of solutions includes e-draft, data trading, supply chain and security assets systems. The creator of the platform has already developed a futuristic HCash Platform that offers a range of amazing technical solution; CoinSpeaker has already given a detailed review on the platform.

Qulian Technology, a China-based blockchain platform developer that created Hyperchain Technologies, is known for the diversity of the projects, the innovative approach to business tasks and the high quality of solutions. The combination of these qualities has attracted a plenty of influential partners to it, including Microsoft, Huawei and Google. The recent B Series have proved that this company gets lots of trust and support from the influential players on the market.

Hyperchain Technologies Co., Ltd has raised a series B round of $233.7 million. That fact makes it one of the biggest traditional funding rounds in the whole blockchain sphere: according to the data from Coindesk’s Blockchain Venture Capital, Chinese blockchain firm is second only to the Robinhood’s $363 million funding.

The success of series И round could have been foreseen at least a week ago as the lead investor Xinhu Zhongbao announced the investment plans on May 27. This Shanghai-listed real estate and finance firm has played a big role in the future of Hyperchain Technologies as the total investment reached $191.8 million. This made the company the deal’s lead investor holding 49 percent of the company’s shares.

The rational of the decision got questioned by the Shanghai Stock Exchange: it pointed at the fact that Xinhu Zhongbao tripled the value of Hyperchain Technologies since April 2018. The response of the real estate and finance firm proved its understanding of the situation: “This is a business judgment made by the company and other co-investors based on a comprehensive evaluation of Qulian. There is a risk of a mismatch in income and valuation.”

Hyperchain Technologies’ series B round has also attracted China SDIC Gaoxin Industrial Investment Corporation and some other companies. This funding round is a big success for the Chinese blockchain project. The revenue of the company amounted to $ 286,707 in 2017 with a net loss of $2.37 million. The recent funding round can change the situation for the firm.

The funding success has given Hyperchain Technologies a big boost to the development. The company has already announced that its spheres of interest will include healthcare, energy, trade, logistics and government.

Alexandra Sayapina
Author: Alexandra Sayapina

Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.

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