LuxTag, an anti-counterfeit, track and trace, and anti-theft solution provider utilizing the NEM blockchain platform, is currently live with a pre-series A funding through pitchIN, a leading Malaysian equity crowdfunding platform.
The funding round, with a minimum target amount of MYR 800 thousand ($191,000 USD) to a maximum of MYR 2 million ($478,000 USD) has already secured one-third of the minimum target.
“LuxTag’s blockchain-enhanced technology powers an effective anti-counterfeit measure and gives brand owners a competitive advantage. Our technology allows consumers to trace the origins of the products and engage with the products & manufacturers swiftly through apps. We are looking to secure more than MYR 4 million of business by 2020, as manufacturers, brand owners, and industries are subscribing with us.”
– Rene Bernard, CEO of LuxTag
PitchIN, a Malaysian licensed equity crowdfunding operator, has obtained approval from the Securities Commission of Malaysia to accept considerations in crypto tokens for the LuxTag ECF campaign.
Leveraging on the existing crowdfunding framework, contributors to LuxTag will obtain a shareholding agreement and receive registered company equity shares.
Back in June 2018, LuxTag secured USD $600,000 in seed round funding led by XSquared Ventures.
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Dow Jones Industrial Average futures are up Thursday morning. Donald Trump is supposed to meet his advisers today to decide the fate of Dec. 15 tariffs. If the U.S. goes ahead with the tariffs, the stock market could take a hit today. Futures on the Dow Jones Industrial Average (DJIA) are trading in the green early Thursday thanks to the Federal Reserve. The Fed believes that it would be a good idea to keep any interest rate hikes on hold through 2020, sending a wave of cheer through the stock market. The Dow Jones managed to snap a two-day losing streak and finished slightly in the green Wednesday. This happened despite a clutch of negative from major Dow components. Lululemon, for instance, offered a tepid fourth-quarter outlook. The company expects to clock earnings between $2.10 and $2.13 per share during the busy holiday season as compared to the market’s expectation of $2.13 per share. Boeing was dealt with another blow in the 737 MAX scandal, with the Federal Aviation Administration (FAA) deciding to keep the plane grounded until next year….Dec 12, 2019
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