We’re pleased to announce that we have secured a £250,000 investment from Scytale Ventures, a team of investment management and blockchain experts. The investment will be used to advance the development of our blockchain-based peer-to-peer (P2P) energy trading platform and the accompanying VLUX (VLX) token.
We first engaged with Scytale Ventures during our crowdfunding round last year which saw us raise over a million pounds from over a thousand investors. Scytale Ventures’ focus on the next generation of blockchain technologies makes them the perfect investor to sit alongside our other shareholders which include Ignite, the social arm of energy giant Centrica.
Scytale Ventures, founded by Mark Cachia and Mattia Gagliardi, have previously invested in the likes of Ocean Protocol, The Energy Web Foundation and Polkadot. Scytale Ventures, who bring with them an amazing network of contacts, are excited by Verv’s innovation in peer-to-peer energy trading and the company’s mission to make renewable energy affordable for all.
Speaking of the investment, Mattia Gagliardi, Co-Founder at Scytale Ventures said, “We are delighted to see Peter Davies and his team use their incredible hub to form a P2P energy trading platform. It’s always exciting to see AI meshing with blockchain tech and it’s great to see Verv at the very forefront of energy innovation.”
Verv CEO & Founder Peter Davies added, “We are thrilled to be working with Scytale Ventures as we look to accelerate the growth of our energy trading platform and accompanying VLUX token. Given their expertise and network in the blockchain sector, it just seemed like a perfect fit.”
The announcement of this investment comes soon after we successfully executed the UK’s first ever peer-to-peer physical trade of energy on the blockchain at Hackney’s Banister House Estate in London — you can read more about this here.
To sign up for the pre-sale or whitelist of our Initial Token Offering, head over to vlux.io.
* Any decision to participate in our Token Sale should only be made
after reading the VLUX whitepaper and will be subject to terms and conditions.*