Blockchain-powered track & trace provider LuxTug holding equity fundraise
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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