Emerging blockchain-based platform Lympo – which incentivizes health and wellbeing via its native LYM crypto token – has secured investment from a venture capital (VC) fund linked to the top-tier crypto project NEO (NEO) – the NEO Eco Fund.
Lympo Roadtrip Paying Off?
The team at Lympo, having identified Asia as an area of strategic importance, took to exhibiting their blockchain-based health and wellness project in various Asian cities over the course of the first half of 2018.
With NEO’s crypto investment arm being one of Asia’s largest, one can’t help but wonder whether such news would have emerged had it not been for the previous months’ resource-intensive travel schedule endured by Ada Jonuse (CEO & Co-Founder, Lympo) and her team.
Notably, in a recent community update, Jonuse suggested that Lympo’s Asia-based roadshows – which featured stops in South Korea, Singapore, China, and Japan – had in fact yielded some positive outcomes, sharing that:
We’re now working hard to grow our community in these countries and to finalize business partnerships that will enable Lympo to enter the Asian markets really soon.”
No Slowing This Crypto Fund
As an established investment firm operating in the crypto and blockchain space, NEO Global Capital (NGC) now runs two funds: NGC Fund I and NEO Eco Fund. According to the firm’s website, the latter’s investment into Lympo represents its first ever.
As distinct from NGC Fund I – which currently comprises a portfolio of 24 projects including Zilliqa (ZIL) and Mainframe (MFT) – the mission of NEO Eco Fund is to foster the growth of not just the NEO ecosystem, but the broader “blockchain industry via strategic capital deployment, project incubation and resource integration.”
Given Lympo and its LYM utility token run atop the Ethereum (ETH) blockchain, to attract investment from the strategic investment vehicle linked to a rival blockchain protocol (i.e., NEO) is highly promising for the Lithuania-headquartered Lympo, one would think.
Thursday’s announcement certainly suggested so, with Wayne Zhu (Founding Partner, NGC) explaining that:
We were inspired by the immense determination the company is showing and the speed at which they are achieving their goals.”
Good news! We are happy to announce that NEO Eco Fund has invested in Lympo. According to NGC founding partner Wayne Zhu, NGC believes this cooperation will be fruitful and will ultimately help Lympo succeed in its journey. Read all about it 👉https://t.co/dpqRZit8hC pic.twitter.com/2Ezi0Diq1x
— Lympo.io (@Lympo_io) July 26, 2018
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