MaidSafe Develops With Further Funding Round

UK-based MaidSafe, developers of a decentralised internet platform, has announced plans for its next steps and the future of the SAFE Network with news of an upcoming fund-raiser and app development. The company will launch an equity fund-raising round on September 12th in conjunction with global online investment platform BnkToTheFuture where it hopes to raise between £1.75m and £2m over a month long campaign. This investment round is being undertaken to accelerate progress by adding functionality and working towards the beta version.

This decision has come after the launch of the alpha phase and MaidSafe describe the next stage as including recruitment of developer talent from around the world and building out a developer programme to support the growing interest in building on the SAFE Network. Alongside this the company has announced it will be working on developing its own applications.

BnktotheFuture was chosen for the fundraiser in part due to its significant online community of qualified investors who interested in the decentralised technology sector. MaidSafe also pointed to a strong relationship with crypto-communities and the ability of investors to be able to invest in both traditional currency, bitcoin and other cryptocurrencies as being important. However; the predominant factor that led to the decision was the ability of the company to retain control of its strategy and roadmap as it fit the company goals of having the SAFE Network available for everyone to use and develop on.

Furthermore, the core intellectual property has been transferred to a Scottish charity – The MaidSafe Foundation – to help ensure that MaidSafe is not seen to benefit unfairly from ownership of the network, although it holds a license in perpetuity to allow it to utilise and license the technology to partner companies.