Developer blockchain platform Hyperchain, the Chinese company Qulian Technology, announced the completion of a round of financing of series «b», which managed to raise 1.5 billion yuan ($234 million), which puts the project at second place on the amount of collected investment in the cryptocurrency space. The first is the project a mobile trading app Robinhood gathered
363 million dollars.
According to the statement made Qulian Technology on Sunday, the largest investor in this round was the company Xinhu Zhongbao real estate and Finance.
In the document
it is said that the company Xinhu Zhongbao invests in Technology Qulian 1.23 billion yuan ($192 million) in two stages: 17 million will be allocated to the share capital of the company, and $ 175 million from the issue of new shares. For this the company Xinhu Zhongbao will receive 49% of the shares Qulian Technology.
Qulian Technology founded in the year 2016 and mainly engaged in the development of enterprise solutions based on its own blockchain Hyperchain. According to the results of the audit conducted by the company Xinhu Zhongbao, in 2017, the income Qulian Technology amounted to 281 thousand dollars, and the net loss is 2.34 million dollars. The company itself is estimated at 234 million. It is noteworthy that in April 2018 Xinhu Zhongbao bought a small number of shares Qulian and then the investor valued the company at just $ 78 million.
A three-fold growth in value in just two months attracted the attention of financial regulators in China, which in the written request demanded that the lead investor to explain such a significant increase in the cost of the company.
«This assessment is based on a comprehensive analysis Qulian Technology, produced by our company and other co-investors. However, there is a risk of mismatch between income and cost Qulian Technology», — said in response to Xinhu Zhongbao.