Cloudeo plans both ICO and IPO in 2018
Blockchain technology is said to be the biggest innovation in computer science and it is predicted to revolutionize the economy world. If you want your stock to be successful, you should do something with Blockchain. This mocking advice is currently circulating on the net. These days everyone is talking about Blockchain, but no one is really doing it. The Munich-based start-up cloudeo is doing it. Cloudeo sells geodata, plans to go public and raised millions in the pre-IPO phase. On top of that their own cryptocurrency is to be launched on the market.
Cloudeo does not only plan an ICO, but also an IPO: The start-up will be listed on the Toronto Stock Exchange in Canada in the first half of the year. Also in the first six months of the year, an ICO will launch for its Cloudeo Blockchain tokens.
In the course of a pre-IPO round, the company has just collected five million euros for a valuation of 41.5 million euros from tech investors from America and Europe. Last summer, the Munich-based company already collected 2.4 million euros in Series A.
Cloudeo operates a marketplace for ready to use geoservices, IT and software. They specialize in the analysis and trading of geodata from multiple vendors and in making this data accessible and useful for a broader public. The start-up collects data from satellites, weather balloons or smartphones and sells protected access to the data. These are then used, for example, by customers from agriculture, logistics and even in the gaming sector or by IoT devices.
Cloudeo are taking they pursue accessibility and transparency to the next level now. They have launched a blockchain venture to be on the forefront of data collection and the provision of location services critical to expanding the Internet of Things and the development of Artificial Intelligence. Currently, they are setting up the non-profit organization CBN Foundation (short for "Cloudeo Blockchain Network Foundation") and are planning to issue tokens for an ICO. The foundation wants to involve users with the blockchain technology by means of smart contracts with very small amounts in the data they generate. In other words, cloudeo is creating a decentralized network of providers, users and collectors of geodata.