September 4, 2014 -- KnCMiner announces the completion of our USD14m Series A investment round. After expanding operations from hardware design into software, app and cloud services, the Series A investment round will enable KnCMiner to accelerate in all areas of business.
GP Bullhound, the technology investment bank, acted as the exclusive financial advisor to KnCMiner on this investment round led by Nordic based venture capital fund Creandum. The funding will enable KnCMiner to expand its mining operations and ability to offer services to consumers in relation to the Bitcoin environment.
Sam Cole, Co-founder of KnCMiner, commented: "We are delighted to welcome our new investors and thrilled to have the opportunity to extend our lead within the Bitcoin ecosystem. In tandem with our considerable investments in IP, this round of funding will further cement our lead in hardware design and deployment of cryptocurrency services."
KnCMiner has, since its inception in April 2013, sold Bitcoin mining equipment for over USD70m and the mining operations has generated more than USD40m of revenue. After branching out into software development KnCMiner has released the mobile Bitcoin wallet KnCWallet, and developed a powerful new proprietary cloud mining management/front-end system, from scratch.
KnCMiner developed and delivered the world's first 20 nanometer Bitcoin chip and the Series A funding will help accelerate KnCMiner's lead in cutting-edge nanotechnology R&D for its next-generation ASIC hardware. The company is also moving forward in developing new pool software, as well as other new financial products related to cryptocurrency mining, transacting and asset management.
"We believe bitcoin will have a tremendous impact on a global scale. KnC is already the leading vendor of mining equipment and we are delighted to act as advisor as well as investor to this world-class management team" said GP Bullhound Managing Partner Per Roman.
KnCMiner is a world-leading specialist of proven extreme-performance cryptocurrency hardware and is one of the fastest growing new-economy companies in the world. KnCMiner delivers state-of-the-art chip design and software for blockchain-based applications including mining hardware, cloud services and mobile apps. For more information, please visit www.kncminer.com
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm, Berlin and Manchester. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals. Combining a true love for entrepreneurship and innovation with deep global buyer relations and sector expertise, GP Bullhound has completed transactions for tech category leaders, most recently selling Pingdom to SolarWinds, Cambridge Technology Partners to Atos, Pozitron to Monitise, Tunigo to Spotify, and Fjord to Accenture. For more information, please visit www.gpbullhound.com