Omise successfully receives investment from Japanese VC firm Global Brain

20 Oct, 2018
by Matthew Kim
News
Omise successfully receives investment from Japanese VC firm Global Brain

Omise, the company behind popular altcoin OmiseGO, announced that it successfully raised funds during its undisclosed financing round in Japan. The round was led by Japanese venture capital firm Global Brain along with 31VENTURES and Indonesian VC firm Sinar Mas Digital Ventures.

The funds were raised to help penetrate high-growth markets, especially Japan and Southeast Asia, with OmiseGO. The companystated that the “undisclosed funding not only brings in additional financial support, but more importantly, connectivity with strategic partners to strengthen the reach of the financial infrastructure currently in the development phase by entities under Omise Holdings — Omise payments, OmiseGO and GO.Exchange,”

It was known that Omise and Global Brain have been collaborating since December of last year when they announced that they were planning to establish a new blockchain-focused fund. They partner with one another for ongoing projects such as the Ethereum Community Fund and Neutrino, a blockchain-focused co-working space. They expect to continue to work closely together in the future.

While the amount of funding remains unknown, it is likely to be a substantial amount. The last disclosed Series B round led by SBI Asset Management in 2016 raised $17.5 million, and the initial coin offering (ICO) for OmiseGO raised $25 million. The market capitalization for OmiseGO currently stands at approximately $460 million.

Read more about: OmiseGo (OMG)

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