Press Release
Press Release In early January 2023, at GloryFinance’s development office, the core project team and representatives of Korea’s top-ranking technology venture Capital representatives signed a seed round funding investment agreement with a confirmed value of US$3.5 million.
The funding will come in the form of an equity acquisition, but details of the transaction were not mentioned due to confidentiality.
GloryFinance (token: GLR) is a newly launched DeFi project with the mission to enable everyone to adopt DeFi through infrastructure development solutions and to sustainably accelerate blockchain applications across industries The mission of the project is to.
GloryFinance’s business model revolves around an Ecosystem that includes three pillars.
- Glorify: DeFi cross-chain application with UI innovation
- GloryLab Blockchain as a Service (infrastructure development)
- Glory Academy powered by Tech Education Partner spinUp
According to Glory Finance representatives, the investment fund will be used over the next three years to help projects in global markets growth and will strategically focus on hiring GloryLabs’ global technical talent and developers to enable blockchain infrastructure development&
“The Glory Finance leadership team is We are extremely pleased and convinced that this is a great opportunity for us. While there are many other blockchain-focused venture capital firms, we believe that partnering with a cross-sector venture capital firm will give us the opportunity to connect with exceptional entrepreneurs, technology experts, and other partners globally. This is perfectly aligned with our mission for a sustainable and inclusive future for blockchain applications.” – James, spokesman and co-founder of GloryFinance
In a call with news.bitcoin.com, Glory Finance representatives were excited to share their ambitious plans to engage with many of the global blockchain&web3 VCs regardless of bear market conditions, and if the market is volatile mention that a bear market can benefit venture capital firms because it leads to lower valuations and a more attractive entry point for potential investors. The project is targeting a seed round with a total funding of USD 10M.
The GloryFinance team is engaged in this new journey after an initial successful attempt. The team previously founded the DeFi/Blockchain project and led it to rapid growth and expansion within a year, reaching a total of $110M in locked value (peak) and $100M in market cap, making the project top 300 pro.
