Nucleus Vision, the contactless identity management system and retail loyalty program powered by cryptocurrency, has announced it has reached its USD $40 million fundraising hard cap.
Founded at Harvard University, Nucleus Vision is an IoT-based, contactless identification system that empowers retailers to identify and better serve their customers. Previous backers of Nucleus Vision have included Tim Draper, Reliance Capital, Indusage Partners, and QuadGen.
As part of the fundraising, Nucleus Vision has received backing from prominent investment firms including Alphabit Digital Currency Fund, FBG Capital, Kenetic Capital, Turiya Ventures, and BlockAsset, Fenbushi Capital subsidiary. The investments will help facilitate the creation of a platform that lets customers securely share their data with retailers. Retailers will be able to leverage customer information to create personalized in-store experiences and enable cryptocurrency transactions.
Nucleus Vision CEO Abhishek Pitti said:
The support of these leading blockchain investment firms represents a critical step forward in achieving our goal of transforming the retail industry through blockchain technology. Their extensive knowledge of the blockchain space will prove to be an invaluable asset to Nucleus Vision as we apply this technology to transform the customer experience in retail stores around the world.
Alphabit is a leading blockchain asset investment company that specializes in counseling institutional and professional investors. Drawing upon its expertise in cryptocurrencies and blockchain technology, Alphabit develops highly effective investment strategies and provides investors with exposure to the most promising blockchain projects on the market.
Alphabit CEO Liam Roberston said:
We are proud to support a project of the high caliber of Nucleus Vision. They have the team with the experience and expertise to achieve their innovative vision of giving brick-and- mortar stores the same competitive advantages as online retailers. By leveraging blockchain technology to make critical improvements to the retail space, Nucleus Vision is one of the most far-reaching and revolutionary projects in the blockchain space to date.
BlockAsset, a Fenbushi Capital subsidiary, is one of the most active Singapore-based venture capital firms that invests in blockchain-enabled companies. BlockAsset was founded by Fenbushi Capital Managing Partner Bo Shen; Fenbushi Capital Investment Team Member Remington Ong; and David Lee, the Founder of Ferrell Asset Management, an Asia-focused financial services group dedicated to serving the investment and wealth management needs of family offices and private individuals globally. BlockAsset leverages years of experience in the digital asset space and strong industry relations to invest in portfolios of leading digital assets. Kenetic is a Hong Kong-based venture capital firm that specializes in early-stage startup companies, primarily in the blockchain and cryptocurrency space. Kenetic has served as a gateway to Asia for its partners, investors, and portfolio companies.
Turiya Ventures is early-stage and seed funding investment firm focusing on founders who are building key enabling infrastructure and applications within the blockchain space. The Turiya team aims to leverage its deep industry knowledge and technical expertise to help promising ventures in the blockchain space solve significant global problems.
Largely operating under the radar, FBG is a major powerhouse crypto and blockchain hedge fund based in Asia.
Nucleus Vision CEO Abhishek Pitti added:
As Nucleus Vision builds the world’s first contactless identity management system and retail loyalty program powered by cryptocurrency, we are privileged to be able to draw upon the expertise and experience of these supporters to help us achieve our vision of leveraging blockchain technology to revolutionize the customer experience in stores around the world.