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Blockmate Ventures Inc (MATEF) held an investor briefing to discuss plans for Hivello after closing a $2.5 million fundraising round. The presentation outlined the go-to-market strategy and business model for Hivello, a platform enabling users to generate passive income through access to decentralised physical infrastructure. The company also granted 2,520,000 restricted share units to certain directors and officers in lieu of cash remuneration.
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Blockmate Ventures Inc. will be hosting an online briefing to provide investors with a progress update on Blockmate investee Hivello, which recently raised USD$2.5m. The funding was secured through a Simple Agreement for Future Equity (SAFE) instrument fundraising round, resulting in a post-money implied valuation of Blockmate’s 67% stake at USD $6.7 million (CAD $8.9 million) or 8.1 cents per Blockmate share. The webinar will feature a presentation by Blockmate CEO, Justin Rosenberg, and Blockmate Chairman/Hivello Co-Founder, Domenic Carosa, followed by a Q&A session. The briefing will take place on Monday, 5 February 2023, at 6.00pm (EST) / 3.00pm (PST).
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Blockmate Ventures Inc announced that its investee, Hivello Holdings, secured an additional USD $1.5 million, bringing the total raised to $2.5 million. The extended funding round attracted prominent new investors, including Blockchange, Cypher Capital, and Primal Capital. The post-money implied valuation of Blockmate's 67% stake is USD $6.7 million or 8.1 cents per Blockmate share. The funding will enable Hivello to expand its technological capabilities and strengthen its market position as a leader in DePIN services.
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Blockmate Ventures Inc (MATE) proudly announces the successful completion of a USD$1 million capital raise by its subsidiary, Hivello Holdings, with a pre-money valuation cap of USD$5 million. The post-money valuation of Blockmate's stake is estimated at USD$4 million (CAD 5.3 million). The raise attracted leading investors in the Decentralized Physical Infrastructure Networks (DePIN) sector, including NGC Ventures, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen. Hivello aims to leverage underutilized computing power to create a DePIN network, providing internet users with a platform to generate passive income. The integration of up to 100 DePINs over the next 12 months is expected to mark a significant leap in the availability of decentralized services.
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Blockmate Ventures Inc (MATE) completes divestiture of Midpoint to management team, reducing annual net cash outflows by approximately $500,000. The divestiture allows the company to focus on higher growth technology investments and capitalize on blockchain and climate technology sectors.
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Blockmate Ventures Inc has published a replay of the special webinar briefing hosted by CEO Justin Rosenberg on November 1, 2023. The webinar discussed the strategic direction of Blockmate pending the approval of the acquisition of BESS Power Innovation Corp. BESS is a company specializing in lithium batteries. The replay and presentation slides are available on the Blockmate Investor Centre.
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Blockmate Ventures Inc announces webinar to discuss acquisition of BESS Power Innovation Corp. CEO's of both companies will provide a summary of the acquisition and immediate plans for the business. Incentive stock options of 8,050,000 granted to directors, officers, and consultants.
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Blockmate Ventures Inc (TSX.V: MATE) announces plans to acquire BESS Power Innovation Corporation, a company focused on the sales, distribution, and manufacturing of lithium batteries. BESS owns exclusive distribution rights to Blivex Energy Technology Co’s products for North and South America, providing faster delivery times. Blockmate will issue 20,000,000 common shares to the existing shareholders of BESS. Completion of the Transaction is expected by November 31, 2023.
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Blockmate Ventures Inc divests its Midpoint foreign exchange business, reducing net cash outflows by approximately $500,000 per annum. Focus shifts to blockchain, battery, and clean energy ventures. Pending approval from TSX Venture Exchange, settlement expected by October 31, 2023.
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Blockmate Ventures announces resignation of Chairman David Wong and appointment of Domenic Carosa as new Chairman.
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