What Does Recent Funding Mean for Internxt?

What Does Recent Funding Mean for Internxt?

 With the beginning of this year pushing cryptocurrency off to an exceptional start, the digital coin Internxt has recently published some great news regarding their rounds of funding and fragmented ownership. According to a variety of different media agencies, Juan Roig’s investment company Angels led an investment round of 250,000 Euros for the technological startup company. With their contribution to the tech. startup, Angel’s now retains 5% of the company equity for Internxt. 

Internxt, founded by Fran Villalba Segarra, created Internxt Drive which prides itself on the security and autonomy of users’ content within their storage platform. With the implementation of end-to-end encryption and blockchain technology, Internxt provides users with a platform that has files completely safe from third parties. Throughout the development of 2020, the technological startup company grew from two employees to 15; the recent fiscal support from Angels will allow for continuous and exponential growth, providing for a doubling of the workforce within the tech. startup’s offices. Readers likely question the justification and mindset behind Angels’ position and investment in the firm – with a relatively young CEO, the company has integrated the investment forum in startup companies by creating a platform of over 200 private investors each month. 

Prior to this secondary wave of funding by Angels’ investment, Internxt opened the year with a seed round of investment, securing 300,000 Euros in funding by a few prominent Venture Capitalist firms. Following that same trend, Internxt was happy to announce of January 26th that they secured that additional line of funding equivalent to 250,000 Euros. Juan Roig, the investor behind the 250,000 Euros of equity backing, is a prominent Spanish billionaire businessman and president of a large Spanish supermarket chain Mercadona. Roig, being worth approximately 7 billion euros, has only invested in a select 20 startup companies as of late, Internxt being one of them. 

With this round of seed funding coming to a close, Internxt is positioned for projected growth by increasing its growth-related investments – they are projecting close to one million Euros of revenue during 2021 alone. Given the funding provided in this seeding round, Internxt considers the seed round as fully closed and consequently will conduct their Series A investment round no earlier than 2022. 

Given our previously presented position regarding investing in Internxt and viewing the platform as a huge step forward in the realm of technological development, it is important to similarly publish news regarding their funding and equity investors. More specifically, though, this equity investment is arguably the most important announcement coming out of the digital platform – it demonstrates the fiscal stability and the intrinsic value behind the platform as a whole. With true investors and venture capitalists buying into the digital platform, retail investors can expect to recognize exponential growth in the coming months or years. I was always a “buy” on INXT; with this new seed funding, the buy just got stronger.

Magic21

I am a computer engineer more interested on blockchain technology and bitcoin.

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