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DJ KR1 plc Investment Update: Volt Ltd

 
TIDMKR1 
 
KR1 Plc 
 
                           ("KR1" or the "Company") 
 
                            Investment Update: Vo1t 
 
KR1 is pleased to announce that Vo1t Ltd ("Vo1t"), a institutional digital 
asset custodian and an investee company of KR1, has completed a successful 
fundraising of USD $2milion at a post-money valuation of USD $17million. The 
funding round saw participation from a highly regarded family office and 
strategic individuals in the digital asset and traditional financial industry. 
 
Following completion of Vo1t's funding round and the conversion of Vo1t 
convertible loan notes held by KR1, the Company now holds ordinary shares in 
Vo1t representing 7.94% of the company, which at the post-funding valuation, 
values KR1's stake in Vo1t at USD $1.4million. 
 
Vo1t is an institutional digital asset custodian, that offers clients safe 
storage of digital assets including BTC, ETH, XRP and numerous others. In 
addition to the cold-storage service, Vo1t offers bespoke integrations into 
institutional financial infrastructure solutions as well as a white-labelled 
and "Storage-as-a-Service" solution for regulated traditional custodians or 
digital asset exchanges. 
 
George McDonaugh, Chief Executive Officer of KR1 commented: 
 
"Since its inception we have seen Vo1t gain great traction, continuing to 
onboard new clients and consistently generating revenue every month. This year 
and with the funds raised, they have extended their service offering 
significantly to exchanges and leading financial institutions exploring digital 
assets and the blockchain space. The company's assets in custody increased 
significantly from our seed round participation earlier in 2017." 
 
The directors of the issuer accept responsibility for the contents of this 
announcement. 
 
                                    -ENDS- 
 
Contact Details: 
 
KR1 Plc 
 
Stephen Corran 
 
+44 (0)16 2467 6716 
 
scorran@bridgewaters.co.im 
 
NEX Corporate Adviser 
 
Peterhouse Capital Limited 
 
Fungai Ndoro and Mark Anwyl 
 
+44 (0)20 7469 0930 
 
 
 
END 
 

(END) Dow Jones Newswires

November 05, 2018 07:00 ET (12:00 GMT)