Panxora Leads $1.5m USD Medical Blockchain Token Fundraising
- 11.11.2020 07:23 pm
Today Panxora Digital Ventures, part of the Panxora Group announces it will lead token investment syndicate supporting dClinic to raise $1.5 million seed investment round for the launch and listing of its VIC Rewards Utility Token (VIC Coin). dClinic has been delivering blockchain solutions to the MedTech industry since 2018. With $10m worth of contracts in place and $10m in negotiations, it will launch VIC Rewards to augment their core business by promoting positive lifestyles and self-care, globally.
Panxora has attracted other investors to this round using its hybrid funding solution – a two-stage process which will bridge the gap between early stage investors’ interests and dClinic’s business needs to produce win-win results. First, Panxora forms a syndicate of accredited investors who provide capital needed to finance the VIC Rewards token launch as well as listing on an Asian and Korean cryptocurrency exchange. Members of the syndicate receive access to multiple revenue streams for their early commitment to the project. Then dClinic will use this capital to promote a token sale on the ChainX and LAToken exchanges. The money raised will allow the company to continue developing the platform which already has 50 merchants committed to the January VIC Rewards website launch, and an expected 200 merchants by early next year.
Marcie Terman, COO at Panxora, says: “Panxora works with token founders helping them clarify their tokenomics and assisting them in protecting the crypto-capital they raise during their Initial Token Sale from volatility. We introduce investors to projects we have carefully researched and are ready to invest in ourselves. “
“dClinic is part of a new generation of companies that utilise blockchain to improve people’s lives while generating a healthy return for founders and investors,” adds Ms. Terman. “When I first met the team, I realised they were working to achieve something special. We are pleased to be working on the VIC Rewards project and will continue collaborating with dClinic as the business grows.”
In addition to the corporate contracts already in place, the company is working with government bodies such as, BP Batam, Indonesia to deliver the PHB and Vitality driven healthcare technology projects in Batam as well as projects in various Indian states. Deloitte South East Asia is formally engaged with dClinic for the short, mid, and long term in order to help dClinic realise its vision.
Dr Richard Satur, CEO at dClinic, says: “In such a data-heavy industry, it’s promising to see blockchain remove siloes. Increased transparency and security of medical information will enable us to provide a holistic approach to healthcare. However, this is not sustainable without token adoption, as the industry needs more merchant and consumer participation.
“Governments risk bankruptcy if they continue funding healthcare with outdated systems. We’re excited to work with Panxora as they provide expertise that is helping us attract early stage investors in a difficult market. This initial meeting of minds is merely the first step in our relationship and we look forward to working together to reform the healthcare space.”
In addition to leading this investment round Panxora will provide Treasury Management Services to hedge capital raised during the main token sale. Capital not needed for business operations are placed with a licensed custodian and traded to prevent the drawdowns that are characteristic of the cryptocurrency market while also taking advantage of upward trends. This both generates returns from surplus funds, while safeguarding assets needed to help the company achieve its goals.