Opting out of the usual Initial Coin Offering (ICO), crypto copy-trade platform Alpha Impact raised 3.1 million in funding from September 2020 to April 2021 through specific accredited investors and venture capital companies around the world.
Some of the investors who led the funding round included Genesis Block Ventures, SMO Capital, Solidity Ventures, and Lune X Ventures. Another high-frequency trading company was also a part of the group, however further details have not been released yet.
The funding round was initiated through the private sale of its tokens. According to co-founder Hayden Hughes, Alpha Impact’s tokens are to be listed in the crypto exchange Uniswap by the end of May 2021.
Additionally, Hughes said that Alpha Impact’s investors were also able to get a 15% share of the company’s crypto token. Combining all of these investments will amount to a value of $20 million.
In an interview with DealStreetAsia, Hughes talked about the mission of Alpha Impact, saying, ‘There’s a lot of noise [in the crypto market]. It’s very hard and very confusing for new investors to understand the space and to separate fact from fiction. So, the idea for us is to give everyone access to different investing strategies.’
With funding secured, the company also stated their plans to hire more people and increase manpower. The idea is to have 20 additional developers by the end of the year. On the other hand, Alpha Impact now has 15 investors including Hughes, who have now made their trading patterns available for people to copy.
Traders who are interested in investing in the token must have an existing account with a crypto trading platform. Alpha Impact will then connect the accounts and allow users to copy trades. However, the platform does not hold and is not responsible for any of the customer’s funds.
Alpha Impact is a crypto copy-trade platform based in Singapore. Established in 2020, the company specializes in crypto social trading and aims to help its users learn more about the crypto market through copying the trading styles and patterns of experts.
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