The Tel Aviv-based crypto startup, Kirobo has secured a strategic investment from the Solana LATAM fund, which is the regional investment arm of the Solana Foundation and the issuer and manager of the BRZ stablecoin, Finance Magnates learned exclusively.
“Solana is one the world's foremost blockchain companies, so receiving a strategic investment from them is yet another signal that we're moving in the right direction,” said Asaf Naim, the Co-Founder and CEO of Kirobo.
This happened after the startup received $5 million in funding last May from DigiCrypts Blockchain Solutions (DigiMax), a provider of Artificial Intelligence and crypto technology solutions.
Though the sum of the latest investment has not been disclosed, it is crucial as it connects the company to a network of new potential partners and investors, especially in the LATAM region. Moreover, ties with the Solana Foundation will help the future prospects of the project.
Carlos Russo, the CFO of BRZ and manager of the BRZ Solana Fund, said: “Adding KIRO to our portfolio was a strategic move because we are supporting the future development of Kirobo's solution in the Solana Ecosystem.”
Native Token Listing
Additionally, the crypto exchange , MEXC Global (formerly MXC) listed Kirobo’s native utility token, KIRO, giving it more exposure to investors. This is the second centralized exchange to list the utility token, along with several other decentralized venues.
“MEXC Global is a highly-respected and popular exchange. We expect the word KIRO to become synonymous with DeFi services as the years progress, and listings like this will only help our network grow,” Naim added.
Furthermore, the Israeli startup highlighted that it will continue its efforts to list its utility token on other exchanges in the coming months.
Meanwhile, Kirobo continued to make developments with its blockchain product. Most recently, it launched an on-chain crypto wallet that can be integrated with decentralized finance (DeFi) services, thus taking the project closure to the DeFi ecosystem.
