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DJ Coinsilium Group Limited: Indorse Operational Update

 
 Coinsilium Group Limited (COIN) 
Coinsilium Group Limited: Indorse Operational Update 
 
02-Sep-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                           COINSILIUM GROUP LIMITED 
 
                       ("Coinsilium" or the "Company") 
 
                          Indorse Operational Update 
 
London, UK, 2 September 2019 - Coinsilium Group Limited (NEX:COIN), the 
blockchain venture builder, advisor and investor that finances and manages the 
development of early-stage blockchain technology companies, is pleased to 
announce that Indorse Pte. Ltd. ("Indorse") a company in which Coinsilium 
holds a 10% equity position has provided the Company with an Operational 
Update. 
 
Background and Brand Capital Investment 
 
The Company announced on 19 June 2019 that Brand Capital, the strategic 
investment arm of India's largest media house, The Times Group, agreed to 
invest up to US$ 6.5m in the Singapore-based skills verification platform 
Indorse. The investment was to be used for Indorse's expansion into India and 
to build the demand for its services through The Times Group's 360-degree 
media assets in India, which rank among the most popular titles in the 
country. Based on The Times Group investment at a valuation of US$ 15m, the 
implied value of Coinsilium's 10% shareholding in Indorse is US$ 1.5m, 
representing a 350% uplift in the two years since Coinsilium's initial 
investment at the pre-seed and seed stage. 
 
Operational Update Highlights: 
 
? Strong growth and robust pipeline of new small and large enterprise 
clients from India and Singapore 
 
? Successful delivery of strategic advertising campaigns, mainly through the 
Economic Times print and online media channels, leveraging the relationship 
with The Times Group 
 
? Distinct product lines and optimised, scalable revenue model established 
 
? Material near term revenues targeted with two Fortune 500 companies 
amongst initial clients 
 
? Featured as a sponsor for the prestigious Economic Times Startup Awards 
2019 
 
Marketing Campaigns 
 
To date, Indorse has run seven print campaigns in the Economic Times producing 
a number of meaningful leads from Fortune 100 and Fortune 500 companies. 
Digital campaigns on The Times digital platforms in India, the UK and U.S. 
have produced 3.1m impressions in the Indian region and 2.8m in the UK and 
U.S. regions combined. 
 
Product Lines and New Agreements 
 
The Indorse service model has three distinct product lines: 
 
1. Optimising Recruitment - Evaluation and assessment of candidates' coding 
skills. Clients obtain comprehensive, qualitative reports to help them make 
more informed hiring decisions. 
 
2. Recruitment through Hackathons - Facilitation of Country/region-wide 
hackathons. Organisation of outreach, roadshows & assessment for clients 
optimising the hire and recruitment process for data engineers and scientists. 
 
3. Future Readiness through Upskilling - Assessment driven learning. 
Upskilling of workforce through a series of quality content modules with pre 
and post-assessments by a panel of world-renowned industry experts. 
 
Singapore 
 
Indorse has secured a substantial long-term project agreement for its 
Upskilling solution for assessing data scientists, in collaboration with Ngee 
Ann Polytechnic with OCBC Bank in Singapore initially using this product. The 
project consists of 12 modules and will take two to three years to complete, 
following which trainees will receive a certificate from the polytechnic. 
Indorse and Ngee Ann Polytechnic are now exploring further collaboration 
opportunities with commercial applications over the course of 2020. 
 
Indorse is also delivering assessment services for Rolls Royce in Singapore 
who are organising a 'Hackathon' for Blockchain solutions. Indorse completed a 
similar project in June 2019 for Grab, Asia's largest ride-hailing service 
(Grab acquired Uber in SEA in 2018). 
 
Indorse is currently working with a number of SMEs from Singapore; these range 
from 20-person start-ups to 200-person recruiting agencies. 
 
India 
 
Through ongoing campaigns in the Economic Times newspaper and digital adverts 
in India, Indorse have already generated a healthy pipeline of leads, 
including approaches from Fortune 100 and Fortune 500 companies where some 
discussions are at an advanced stage. To support Indorse's expansion plans in 
India, a regional sales function has now been set up. 
 
UK 
 
Indorse has established a UK subsidiary company with sales representation to 
act as a springboard for expansion into the European and U.S. markets. The 
sales outreach will initially be targeting mid-size enterprises and initial 
results are encouraging. 
 
Optimised Revenue Channels 
 
Indorse is targeting material revenues from each of its distinct product 
lines, which are designed to deliver significant efficiencies and quantifiable 
costs savings for its clients in the recruitment, training assessment and 
upskilling processes. To reflect this, sustainable and scalable revenue models 
have now been structured, including revenue sharing models with suppliers, 
with pricing pitched to commercially reflect the value of the services 
provided and savings delivered. 
 
Times Group initiatives in Bangalore and Mumbai 
 
To support their launch into the Indian market, Indorse recently participated 
in a number of high-profile initiatives in Bangalore and Mumbai, leveraging 
The Times Group's media assets and connections. These events included the 
prestigious 2019 Economic Times Startup Awards where Indorse featured as 
Associate Sponsor. The ceremony was broadcast on live TV nationally with 
addresses from Government Ministers Ravi Shankar Prasad and Piyush Goyal. 
 
These initiatives have generated a number of high quality leads which 
Indorse's sales team are currently pursuing. Coinsilium's Chief Executive Eddy 
Travia and Chairman Malcolm Palle also attended these events on behalf of 
Coinsilium. 
 
Indorse branding profile and photographs of the event can be seen via the 
links below: 
 
https://etstartupawards.com/our_partners/ [1] 
 
https://etstartupawards.com/gallery-2019/ [2] 
 
Coinsilium's CEO, Eddy Travia, commented: "The marketplace for talent 
acquisition has never been more competitive, especially in the fast-evolving 
data and information technology sector. It is therefore most encouraging to 
see the fast pace at which the Indorse team are rolling out their client 
solutions and their growing roster of prestigious corporate clients, further 
validating their business model. It is our belief that Indorse is now set to 
become a key strategic partner for some of the largest recruiters globally. 
 
"Likewise, the Indian market opportunity for Indorse cannot be understated. 
According to NASSCOM, the Indian technology sector aggregated revenues of 
US$160 billion in 2017 and is growing by over 13%.[1] 
 
"As Indorse's first investor at the seed stage, it is gratifying for us to see 
this potential starting to be realised and going forward, we expect Indorse's 
rapid growth trajectory to reflect significantly in valuation terms within our 
portfolio of investments." 
 
The Directors of Coinsilium Group Limited take responsibility for this 
announcement. 
 
For further information, please contact: 
 
Malcolm Palle, Executive Chairman +44 (0) 7785 381089 
 
Coinsilium Group Limited 
 
Eddy Travia, CEO +44 (0) 20 3889 4312 
 
Coinsilium Group Limited www.coinsilium.com 
 
Guy Miller / Mark Anwyl +44 (0) 207 469 0930 
 
Peterhouse Capital Limited 
 
(NEX Exchange Corporate Adviser) 
 
Nick Emerson +44 (0) 1483 413 500 
 
SI Capital Limited 
 
(Broker) 
 
Adam Wurf/Chris Flame +44 (0) 20 3004 9512 
 
Yellow Jersey 
 
(Public Relations) 
 
Notes to Editor 
 
[1]https://cio.economictimes.indiatimes.com/news/strategy-and-management/natio 
nal-technology-day-heres-how-cios-reforming-technology-implementation/64117740 
[3] 
 
About Coinsilium 
 
Coinsilium is a venture builder, investor and advisor, supporting early-stage 
blockchain technology companies and the digital token economy. As the first 
ever IPO of a blockchain company in 2015, Coinsilium harnesses its experience 
and wide-ranging network to invest in some of the world's leading blockchain 
projects such as RSK/IOV Labs, Indorse, Blox and Factom. 
 
Coinsilium shares are traded on NEX Exchange Growth Market, the primary market 
for unlisted securities operated by NEX Exchange, a Recognised Investment 
Exchange under the Financial Services and Markets Act 2000. For further 
information about Coinsilium please visit www.coinsilium.com 
 
About Indorse 
 
Indorse is a skills validation platform which helps companies find the talents 
they need faster. Unlike other platforms on which users can claim skills 
without a proper validation, Indorse ensures that users' skills are assessed 
and validated by a panel of experts. Using cutting edge technology, Indorse 
provides insights about candidates' skills and proficiency level. Instead of 
spending several man-hours and dollars sifting through a barrage of resumes, 
hirers can now interview only the validated candidates who have been assessed 
by experts in the domain. For further information about Indorse please visit 
www.indorse.io [4] and https://youtu.be/CBs1JJe9Qr4 [5] 
 
ISIN:          VGG225641015 
Category Code: MSCM 
TIDM:          COIN 
Sequence No.:  18613 
EQS News ID:   866421 
 
End of Announcement EQS News Service 
 
 
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