New York-based blockchain startup Templum has raised $2.7 million in a new seed funding round.
The round was led by Raptor Group, Galaxy Investment Partners, Blockchain Capital and firstminute.capital, the startup said in a statement. Raptor Group, founded by billionaire businessman Jim Pallotta, has invested in major firms such as Uber, as well as blockchain industry startups like Paxos, among others.
Templum entered into a strategic partnership and license agreement with Liquid M Capital that will position Templum to be a leading fully regulatory compliant platform for the primary issuance of ICO’s as securities and their secondary trading resulting in the creation of a new market infrastructure for digital assets.
Utilizing a so-called alternative trading system (ATS) that is subject to regulation from agencies like the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), the startup is hoping to develop both primary and secondary markets around such tokens.
“ICOs offer innovative organizations an efficient alternative for raising capital. However, ICOs in their current form can be highly risky for issuers and investors. Templum will provide the necessary transparency, accountability and investor protection to reduce risks and encourage more widespread acceptance of ICOs,” Chris Pallotta, Templum’s founder and chief executive officer, said in a statement.
