Cloudeo plans IPO and ICO in the first half of 2018

With its own blockchain-token, the german geodata-startup Cloudeo plans to raise money in an ICO. Furthermore the Munich-based company plans an IPO.

“With a vital and already profitable operational business model an ICO can boost the corporate financial independency for future investments.”

Cloudeo collects data from different satellite-companies and makes these available to his customers for use. The data is used among others in agriculture, logistics, the gaming industry or at IoT-companies. With its service the Munich-based company has already been able to raise 2,4 million Euro a Series-A-round last summer. As the magazine Gründerszene reports, Cloudeo recently collected 5 million Euro at a valuation of 41,5 million Euro by unnamed investors in America and Europe in a pre-IPO round.

Also according to Gründeszene, the company now plans an IPO as well as a capital increase via blockchain, a so-called ICO. Still in the first half year the start-up wants to be listed on the stock exchange in Toronto and issue a blockchain-token, so the article claims. The german IT industry association Bitkom predicts a huge potential for ICOs and urged the government to provide legal security for venture capital via blockchain. They should refrain from excessive regulation, Bitkom says. The expenditures for the new form of financing should remain noticeably below those of a classic IPO.