SLiC International Closes Seed Funding Round
SLiC International Ltd [SLiC] announced that it has closed its Seed Funding Round, and it will launch their Series A Funding Round later in 2020.
A spokesperson said, “SLiC has closed its Seed Round valuing the company at USD 12 MN post-money. Private funding contributions ranged from USD 1 MN to USD 100,000 from the Caribbean and North America, including Bermuda, Cayman Islands, Jamaica, Mexico, and the USA.
“SLiC selected Bermuda as it’s global headquarters due to its sophisticated legal structure and skilled workforce. Bermuda is a highly respected and successful financial centre with high standards of compliance, regulation, and transparency with established laws concerning digital assets.
“Seed funding has enabled the launch of the Proof of Concept Data Center in Upstate New York which has deployed ASIC and GPU hardware using hydro-electric power priced at less than 0.05 cents per KWh. The company is already generating revenue and has hired a team of industry experts in the fields of Data Center Operations, Cyber-security, and Finance, augmented with a panel of advisors with expertise in Immersion Cooling, GPU advanced technologies and Equity Capital Markets.
SLiC’s Founder, Luciano Canzanella, is very happy the Seed Round closed successfully during the Global Pandemic, “We have raised money despite Covid-19, connecting with our network via tools such as Zoom. Despite the huge disruption in the funding market, we have been successful in closing the required funds to complete the design and Proof of Concept phase of SLiC’s roadmap. As a Data Center asset class, investors have been very impressed with our business model, against the backdrop of many other industries failing due to the massive disruption in the global economy. SLiC is now hiring and gearing up for production, as we disrupt the Institutional Data Center service model with our lower costs and higher performance versus monolithic, air cooled legacy competitors.”
SLiC Founder, Dustin Jackson, is focused on rolling out SLiC’s infrastructure and leveraging all the lessons learned during the Proof of Concept phase, “The SLiC platform is now stable and running at over 95 % of full capacity. We have identified ASIC mining as the first Use Case for our Immersion Cooling technology, due to incredible power demands of this technology and demand for taint-free digital assets by regulated firms. The team are now tuning our GPU hardware and the results are tracking the success of our ASIC build.”
SLiC COO, Ian Gilmour, is excited about the sophistication of the company, “The SLiC differentiator, including flexible deployment of our PDCs, means we can reduce network latency effects for our customers in regional Edge Computing markets. Our capabilities are opening up conversations with sophisticated end users in the fields of Artificial Intelligence and video rendering. We are also dedicated to standing-up a financing and servicing model that meets the stringent compliance requirements in our target markets in North America, Europe, and Asia. We will be compatible with industries such as Banking & Finance, Asset Management, Government, Universities, and Pharmaceuticals. Our Use Cases are evolving rapidly, especially in the field of genome mapping, biometrics, and rendering.”
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