Kalima secures $10 million investment commitment, announces private sale and DEX listing
Dubai, United Arab Emirates, July 17, 2023, Chainwire
Kalima has agreed with ABO Digital, a private alternative funding group based in the Bahamas and Dubai. The partnership involves a commitment of $10 million to Kalima, the French-based blockchain company.
Kalima has also released details of its KLX token sale.
It is an ecosystem that allows businesses, developers, and startups to build web3 enterprise and data governance applications, focusing on internet-of-things (IoT) data to solve real-world problems.
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Kalima CEO André Legendre said:
“The funding commitment from ABO Digital marks a significant milestone for Kalima, which plans to utilize the funds to innovate further and refine IoT solutions to revolutionize industries and drive digital transformation. The arrangement with ABO Digital will enable Kalima to enhance its IoT blockchain solutions for industrial companies and bolster strategic partnerships within the IoT and blockchain ecosystem.”
Amine Nedjai, CEO of ABO Digital, said:
“We are excited to work with the Kalima team going forward. Kalima’s innovative approach and expertise in web3 enterprise applications align perfectly with our commitment to driving technological advancements in blockchain solutions.”
The Kalima team has also announced a 24-hour private sale of its KLX token on Pinksale. The event will provisionally take place on July 19. A general-purpose utility token, KLX, can be used to pay for transactions and access blockchain services on the Kalima protocol.
To support the growth of the KLX token, on July 10, Kalima Blockchain Governance created several proposals. These include bridging the KLX token from Polygon to Ethereum and proposing the 24-hour token sale on Pinksale.
Following the completion of the private sale event, KLX will be made available for trading on Uniswap, where a KLX-ETH pair will be established.
The primary objective of the private sale, which will have a hard cap of 300 ETH, is to create a sufficiently deep liquidity pool on Uniswap.
The Uniswap listing of the KLX token is planned for July 21.
Kalima is a low-consumption layer one blockchain for enterprises and IoT.
It provides an interconnected blockchain for achieving decentralization and increasing scalability, adopting a framework popularized by blockchains such as Cosmos and Polkadot.
Kalima can be embedded into tiny IoT devices, allowing AI inferences to be executed at the network’s edge using its native smart contracts.
About ABO Digital
ABO Digital is an investment firm providing alternative financing solutions to cryptocurrency projects around the world.
As part of the Alpha Blue Ocean group, which has executed more than $2 billion in financing commitments for publicly listed companies since its inception in 2017, ABO Digital brings institutional-grade expertise and flexible financing solutions for blockchain developers worldwide.
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