Swisstronik Concludes $5 Million Seed Funding

Swisstronik, a network that prioritizes user privacy and compliance with regulations recently completed its initial funding round of $5 million. At the time they initiated a private sale of their tokens. The company plans to use the acquired funds to expand their team enhance their technology and prepare for the launch of their mainnet in 2024.

In addition Swisstronik has commenced a time token sale. This opportunity allows individual and institutional investors to acquire SWTR tokens before the network becomes publicly available. The first transaction in this token sale was made by MAQ Capital Home, a venture capital firm from the UAE represented by Mohammed Abdul Qadir Jihad. They invested $500,000 in SWTR tokens giving them access to participate in the Swisstronik ecosystem.

The private token sale will continue until mid 2024. Will be followed by a public offering of SWTR tokens later in the year.

Swisstroniks goal is to create a network that not provides high security and user friendly experience but also addresses important concerns such as legal requirements, data protection and compatibility, with existing technologies.
The management team of the organization consists of individuals with experience in blockchain technology. This team includes Valerii Brizhatiuk, who serves as the Chief Product Officer, Mike Antonuk as the Blockchain Team Lead, Constantin Guggi as the CEO and Anton Polianski as the COO.

Guggi and Polianski ventured into the cryptocurrency space with a mining operation worth $2.5 million. They later contributed to projects like the Tawasal Superapp in the UAE, which had a value of $200 million.

Looking ahead Swisstronik has plans for its future. In 2024 they will launch their mainnet. Subsequently introduce various services such as a decentralized messaging app, a distributed authentication system, enterprise level decentralized oracles and an asset tokenization suite in 2025. The companys goal is to become a solution for managing compliance, in web3 projects while also minimizing regulatory risks.

source