Cross Coin, a Singapore-based company, has announced that during its ICO, $5 million in cryptocurrency was raised for investment in the tech start-ups within Starta Accelerator, a Russian and American initiative. $1.5 million was raised during the first 15 minutes of the crowdfunding campaign, and the full amount was raised in less than a day. Tokens were created on the Waves blockchain platform.
Cross Coin issued 5 million cryptographic tokens during the Initial Coin Offering, at a cost of $1 each – making the venture industry open to a wide range of applicants. $1.5 million of the funds raised will be used to refinance the pool of 21 start-ups that participated in Starta Accelerator’s program in 2016-17, with the remaining funds used for start-ups in the next tranche of start-ups. The breakdown of raised funds is as follows: Bitcoin – 909; Litecoin – 4,168; Waves – 203,422; Ethereum – 5,200; Ethereum Classic – 5,793.