Tokenization firm Savea has raised $2.5 million in pre-seed funding, according to the company. The platform aims to tokenize “high-value assets” in a regulated environment.
The funding came from angel investors and venture firm EmergentX. Savea says it will utilize blockchain technology to improve liquidity in real-world assets (RWAs) like fine wine, collectible cars, and watches.
Sam Mudie, co-founder and CEO of Savea, says that “passion assets” attract more mature investors interested in the stable growth and as a hedge against market volatility.
“The problem is that investing in these assets often requires a special relationship and involves lengthy, inefficient processes. Savea’s blockchain-based infrastructure allows investment in an ERC-20 token, backed 100% by physical assets held in reserve, resulting in a highly liquid and scalable alternative to traditional asset ownership.”
EmergentX CEO and founder Lee Smith said that in today’s global volatility, he immediately saw the value of Savea’s platform to tokenized RWAs, which are uncorrelated from stocks. Smith apparently has led many firms to successful exits, like Paidy, which was acquired by PayPal for $2.7 billion.
“Savea is a game-changer for family offices, hedge funds, and crypto investors who want to diversify their portfolios with regulated investment product offerings,” said Smith.
Savea states that it is partnered with Decentralized Storage and Tokenization Network (DESAT), a company also funded by EmergentX. DESAT provides secure storage of physical assets and legally compliant tokenization and redemption infrastructure.
The first product is expected to be structured like an ETF and will track the fine wine market.
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