We have successfully completed our Strategic Angel Round with funds raised from high-profile German investors. We plan to invest the raised funds of around 750,000 Euro to take the world’s first full-scale blockchain platform for the automotive industry into mass-production with one of Germany’s leading automotive manufacturers. The funds are in addition to the 600,000 Euro in revenues generated in 2020.
The round was limited to strategic angel investors who we consider to be invaluable multipliers and advisors going forward. These include Werner Geissler, former Vice-Chairman of Procter & Gamble, Michael Ganser, former Cisco Germany CEO, Xavier Sarras, Partner at 4P Capital, Friedrich Neuman, Senior Advisor at Deloitte Digital, and Steffen Seifarth, former CEO of Mäurer & Wirtz, amongst others. This represents an important step towards achieving our ambition - to become the leading company for Distributed Ledger Technology infrastructure for the Internet & Economy of Things.
"I am deeply impressed by the quality of the peaq team. Their platform infrastructure works at the most critical intersection between technology and business. They are in pole position to solve complex business problems for companies in the European market and beyond. I am happy to be a part of this exciting journey and to support this great team. peaq has the potential to be one of the most compelling German growth stories of the next decade."
- Michael Ganser.
We have been developing our proprietary deep-tech blockchain alternative for over three years. We consulted over twenty global mega-firms to understand where their pain-points are, what they expect from blockchain and where other blockchains are falling short. Armed with this knowledge, we developed the DAGchain which combines blockchain and DAG technology to create the most advanced possible data-structuring infrastructure for industry. It enables high performance, with high security and decentralized operation without the need for high energy consumption, while meeting all industry standards and requirements.
'With our Software-as-a-Service DAGchain we have redesigned blockchain and the way data is structured and communicated. We use this to solve core challenges seen across the digital world. After the last intensive years of research and development we are happy to communicate our progress. We are incredibly proud of everything we have achieved so far and the value we have created for our customers,' - Till Wendler, CEO.
'We bootstrapped peaq for a long, long time - and on that note I’d like to thank the team for their unwavering commitment, support and hard work. We’re a team of highly talented engineers and entrepreneurs who have stuck together and now have a truly revolutionary technology to show for it - technology that is changing the way companies collaborate and compete, massively reducing costs and middlemen and making the world more secure - more trust-able,' he added.
"peaq have the tech, the team and the timing - and they’re working on truly industry-shaping technology with industry-leading companies. Happy to be a part of what could prove to be a rare German tech startup success story.''
- Xavier Sarras
A larger financing round with institutional investors is planned for the first quarter of 2021. The round will be open to a broader range of investors as we prepare to replicate our success in the automotive space across the telecommunications and compliance industries.
peaq provides the blockchain platform infrastructure for the Internet-of-Things. The German deep-tech company develops neutral innovation and transaction infrastructure for decentralized IoT applications. peaq developed their blockchain hybrid technology in-house and sells their platforms to groups of mega-firms according to a Software-as-a-Service model, helping their clients drastically reduce costs, create new revenue streams and automate processes while making their systems faster and more secure.