Swisstronik raises $5m in seed round, launches private token sale

Swisstronik, a layer-1 network focused on user privacy and regulatory compliance, has announced the close of its $5 million seed funding round, and the launch of its private token sale.

Swisstronik closes seed funding round

After a successful seed round, Swisstronik intends to utilize the funds for team expansion, technology development, and the planned 2024 launch of its mainnet.

Simultaneously, they have initiated a private token sale, providing individuals and businesses with an exclusive early investment opportunity to secure SWTR tokens required for accessing the Swisstronik Network ahead of the public launch.

Swisstronik has already closed on its first deal in the ongoing private token sale, with MAQ Capital Home, a UAE-based venture capital represented by Mohammed Abdul Qadir Jihad. This led to MAQ Capital Home acquiring $500,000 worth of future SWTR tokens, which would allow the VC to engage with and contribute to Swisstronik’s ecosystem.

Swisstronik’s private token sale is scheduled to run until mid-2024, followed by the public sale of SWTR in the second half of the year.

Team and roadmap

Swisstronik’s main goal is to create a user-friendly and secure network that addresses key issues like legal compliance, data privacy, and compatibility. It aims to be the top choice for developers while emphasizing privacy and decentralization.

The Swisstronik management team, consisting of Valerii Brizhatiuk, the chief product officer; Mike Antonuk, the blockchain team lead; Constantin Guggi, the chief executive officer), and Anton Polianski, the chief operating officer, brings significant blockchain experience dating back to 2016.

Guggi and Polianski began their crypto journey with a private crypto mining venture valued at $2.5 million. They later ventured into the communications sector, contributing to projects such as the $200 million Tawasal Superapp in the UAE.

Swisstronik’s future roadmap includes the launch of its mainnet in 2024, followed by a decentralized messenger, distributed authorization system, corporate decentralized oracles, and assets tokenization suite in 2025.

These developments aim to position Swisstronik as a cost-effective compliance management tool for web3 projects, potentially reducing regulatory challenges.