imToken, a Singapore-based blockchain technology company, announced on Tuesday it raised $30 million through its Series B financing round, which was led by Qiming Venture Partners, with participation from its lead Series A investor IDG Capital and new investors including Breyer Capital, HashKey, Signum Capital, Longling Capital, SNZ and co-founder of Fosun International, LIANG, Xinjun.
Founded in 2016, imToken is a decentralized digital wallet used to manage and safeguard a wide range of blockchain- and token-based assets, identities and data. The company has notably helped its users transact and exchange billions of dollars in value across more than 150 countries around the globe.
“Now, imToken’s digital wallet platform is a key pillar of the cryptocurrency ecosystem, enabling its 12 million users from over 150 countries to manage and safeguard a wide range of blockchain- and token-based assets, identities and data. Over $50 billion in assets are currently placed on the platform and the total transaction value via imToken has exceeded $500 billion.”
imToken further revealed that the Series B funds will be invested in building a research arm called imToken Labs, with the goal of further exploring and applying advanced blockchain technology in imToken’s products and services. It will also be used to bolster imToken’s recruiting efforts in the areas of research, marketing and operations, and to establish more offices globally. He Bin, CEO and Founder of imToken, spoke about the investment by adding:
“Beginning with our inception five years ago, we recognized the huge potential of blockchain technology – as well as the challenges faced by the industry with regards to a need for improved user experiences, secure key management and scalable network. With our investors’ support, we are well positioned to tackle these challenges and grow our platform beyond our wallets – bringing our trademark focus on ease-of-use to a wide range of decentralized services with a goal of serving over 100 million users in the next five years.”