Coinsilium Group Limited Investee Company Update

 
TIDMCOIN 
 
5 October 2016 
 
                           COINSILIUM GROUP LIMITED 
 
                         ("Coinsilium" or the "Group") 
 
  COINSILIUM INVESTEE FACTOM, INC RAISES SERIES A FUNDING, LED BY TIM DRAPER. 
 
Coinsilium Group Limited (ISDX:COIN), the ISDX quoted blockchain technology 
investment and development company, is pleased to announce that Factom Inc. 
('Factom'), a company in which Coinsilium has a 1.8% equity interest, has 
raised $4.2m in a Series A round of funding led by Tim Draper of Draper 
Associates. 
 
"We are delighted to have venture capitalists of such caliber help us build 
Factom," Peter Kirby, CEO and Co-founder of Factom, Inc. stated following the 
announcement, "This round of funding allows us to aggressively grow the company 
and the underlying technology. We started Factom to build a more honest and 
transparent world using a pretty simple approach: create software that makes it 
impossible to change the past and point that software at places where it solves 
valuable business problems. This funding accelerates our progress down that 
road." 
 
Eddy Travia, CEO of Coinsilium, stated, "When we increased our investment in 
Factom earlier this year, having previously introduced additional investors, 
Factom's CEO Peter Kirby declared that we were the first investor who 'really 
got Factom'. With this in mind we are delighted to see that there is an 
increasing number of likeminded investors and that they have decided to partake 
in this Series A funding round. We have continued to be impressed by the pace 
at which Peter and his team have worked this year to build partnerships and 
solutions. These have each put Factom on the map as one of the leading 
blockchain and data security companies." 
 
The Directors of Coinsilium take responsibility for this announcement. 
 
Factom's announcement in full 
 
           Blockchain Startup Factom, Inc.T Raises Series A Funding 
 
  Tim Draper of Draper Associates Leads Investment in Factom, Inc.'s Series A 
                                    Funding 
 
Austin, Texas - October 5, 2016 - Factom, Inc., the blockchain technology 
company that secures data via decentralization, announces that it has raised a 
Series A round of equity funding led by Tim Draper of Draper Associates. 
 
"We are delighted to have venture capitalists of such calibre help us build 
Factom," Peter Kirby, CEO and Co-founder of Factom, Inc. "This round of funding 
allows us to aggressively grow the company and the underlying technology. We 
started Factom to build a more honest and transparent world using a pretty 
simple approach: create software that makes it impossible to change the past 
and point that software at places where it solves valuable business problems. 
This funding accelerates our progress down that road." 
 
Tim Draper stated, "Securing data is mission critical for governments, banks, 
car companies, credit card companies, retailers and any company concerned with 
hacking. Centralized data is prone to critical failure by any individual 
mistake, whether by user error or malicious hacking. By decentralizing data 
through the blockchain, Factom avoids critical failures due to user error or 
hacker. Factom lets people sleep easy knowing that their bank account won't be 
broken into, their car won't errantly go off the road, and their identity won't 
be stolen." 
 
Factom Apollo and Factom Iris premium products are built on Factom's open 
source core software and represent an innovative, lightweight, and scalable 
approach using the blockchain to secure records and identity. This is more 
secure than any other solution on the market. The Series A round of financing 
enables Factom to further develop its core technology and suite of products. 
 
"Consensus is extremely challenging," said Paul Snow, Chief Architect and 
Co-founder of Factom, Inc. "Blockchains first pushed the boundaries of computer 
science with the simple yet revolutionary ability to trade digital value 
openly. Now we are pushing the limits of computer science in a second 
revolution. The Factom protocol allows for the open coordination of processes 
against immutable ledgers of data. It will have the same kind of impact on data 
and systems as the first revolution had on value." 
 
About Factom, Inc. 
 
Factom, Inc., is an Austin based blockchain technology company that's on a 
mission to make the world's systems honest. People and institutions today can 
solve hard problems and change the world for the better when they have a 
reliable framework to build upon. Honest systems free up dead capital, which 
allows companies to grow and helps people to lift themselves out of poverty. 
 
About Draper Associates 
 
Draper Associates, founded in 1985, is a seed-stage venture capital firm that 
encourages entrepreneurs to drive their businesses to greatness, to transform 
industries with new technologies, and to build platforms for extraordinary 
growth, jobs, and wealth creation. 
 
Factom is a trademark of Factom, Inc. All other company and product names may 
be trademarks of the respective companies with which they are associated. 
 
Notes to Editor 
 
About Coinsilium Group 
 
Coinsilium is a London-based blockchain technology focused investment and 
development company, supporting early-stage blockchain companies through 
investment, acceleration, development and education. 
 
Coinsilium is the world's first blockchain technology focused company to be 
admitted to trading on an Exchange Regulated Market and has a portfolio of 
interests in blockchain companies and projects.  In addition to pursuing its 
investment strategy Coinsilium is able to offer a suite of services including 
corporate/business advisory, CPD accredited training & education, investment 
solutions, in-house development and other professional services to blockchain/ 
fintech companies and major corporates wanting to learn more about blockchain 
technology and its implications to the way the world transfers value over the 
internet. 
 
For further information please visit http://www.coinsilium.com/ 
 
Or please contact the following: 
 
Eddy Travia / Laurent  Coinsilium Group Limited      [phone] 
Kssis 
 
Peter Shea / Asha      Daniel Stewart & Company      [phone] 
Chotai                 (Corporate Adviser) 
 
Nick Emerson / Andy    SI Capital Limited            [phone] 
Thacker                (Broker) 
 
Jan Skoyles            Coinsilium Group Limited      [e-mail] 
                       (Marketing) 
 
 
 
END 
 

(END) Dow Jones Newswires

October 05, 2016 07:30 ET (11:30 GMT)