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$30 million raised in token presale by Swiss govt-backed Ambrosus

$30 million raised in token presale by Swiss govt-backed Ambrosus

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On the presale achievement, Ambrosus co-founder and CEO Angel Versetti says, “Our token sale participants, many of whom are early adopters of Ambrosus, see value in a platform that assures the quality, safety and origins of life-essential products."

In brief:

The government-backed Swiss company Ambrosus has been able to raise more than $30 million in its token presale.

Swiss government-backed Ambrosus, a blockchain Internet of Things (IoT) platform that aims to bring quality and safety to the food and pharmaceutical supply chains, announced that it has raised more than $30 million in its token presale. Dr. Stefan Meyer and Angel Versetti are the founders of government-backed company Ambrosus with Parity Technologies as its technical advisor.

According to the company, its token presale, which is ongoing, has already surpassed $30 million. On the presale achievement, Ambrosus co-founder and CEO Angel Versetti says, “Our token sale participants, many of whom are early adopters of Ambrosus, see value in a platform that assures the quality, safety and origins of life-essential products. By combining high-tech sensors, blockchain technology, and smart contracts, Ambrosus ensures the transparent and efficient recording of supply chain data to a blockchain that can be accessed by anyone.”

Adding on, Versetti said, “Often inefficient, opaque and corruptible, the world’s system of commodity production and distribution has been slow to capitalize on the ground-breaking technological advancements of our time. Scandals, recalls and failures have plagued the global food and pharmaceutical supply lines for years, clearly demonstrating that this problem has become a moral issue, not just a practical one.”

From September 15 to October 12, the Ambrosus ICO will open to the public and has a hard cap of 100 million CHF (about $100,080,000). To participate in the sale, ether and major fiat currencies can be used. The Amber token (“AMB”) conversion will take place at the token sale rate of the 1 ETH = 1000 AMB which will be the price of AMBs at the public token sale. The crowdsale proceeds will be allocated to stimulate the development of a better ecosystem for the global commodities markets.

Besides food tracing mechanism, Ambrosus has also launched a P2P marketplace where buyers can connect with international food producers. The buyers can track the quality of the food at each phase of the production and transportation process. Moreover, Ambrosus is the first blockchain project to form an official partnership with the United Nations 10YFP, for sustainable production and consumption. Also, it has received the support from the Swiss Quality and Safety Association.

 

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