Kalima Secures $10 Million Investment Commitment and Announces Private Sale and DEX Listing

July 17, 2023 04:02 AM PDT | By Invezz

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Kalima Secures $10 Million Investment Commitment and Announces Private Sale and DEX Listing — Image source: Invezz

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Dubai, United Arab Emirates, July 17th, 2023, Chainwire

Delegated proof-of-stake blockchain Kalima has entered into an agreement with ABO Digital, a private alternative funding group based in the Bahamas and Dubai. This significant partnership involves a commitment of US$10 million into the French-based blockchain company. Kalima has also released details of its KLX token sale.

Kalima is a rapidly growing ecosystem that allows businesses, developers, and startups to build web3 enterprise and data governance applications, with a focus on IoT (Internet of Things) data in order to solve real-world problems.

Kalima CEO André Legendre said: “The funding commitment from ABO Digital marks a significant milestone for Kalima, which plans to utilize the funds to further innovate and refine IoT solutions to revolutionize industries and drive digital transformation. The arrangement with ABO Digital will enable Kalima to enhance its IoT blockchain solutions for industrial companies and bolster strategic partnerships within the IoT and blockchain ecosystem.”

“We are excited to work with the Kalima team going forward,” said Amine Nedjai, CEO of ABO Digital. “Kalima’s innovative approach and expertise in web3 enterprise applications align perfectly with our commitment to driving technological advancements in enterprise blockchain solutions.”

The Kalima team has also announced a 24-hour private sale of its KLX token on Pinksale. The event will provisionally take place on July 19. A general purpose utility token, KLX can be used to pay for transactions and access blockchain services on the Kalima protocol.

To support the growth of the KLX token, on July 10 Kalima Blockchain Governance created several proposals. These include bridging the KLX token from Polygon to the Ethereum network and proposing the 24-hour token sale on Pinksale. Following completion of the private sale event, KLX will be made available for trading on Uniswap, where a KLX-ETH pair will be established.

The primary objective of the private sale, which will have a hard cap of 300 ETH, is to create a sufficiently deep liquidity pool on Uniswap. The Uniswap listing of the KLX token is planned for July 21.

About Kalima

Kalima is a low-consumption layer one blockchain for enterprises and IoT. It provides an interconnected blockchain for achieving decentralization and increasing scalability, adopting a framework popularized by blockchains such as Cosmos and Polkadot. Kalima can be embedded into very small IoT devices and allows AI inferences to be executed at the network’s edge using its native smart contracts.

About ABO Digital

ABO Digital is an investment firm providing alternative financing solutions to cryptocurrency projects around the world. As part of the Alpha Blue Ocean group, which has executed more than $2B in financing commitments for publicly listed companies since its inception in 2017, ABO Digital brings institutional-grade expertise and flexible financing solutions for blockchain developers worldwide.

Contact

Head of PR, Yousef Batter, White Label Strategy, [email protected], +971559356531

The post Kalima Secures $10 Million Investment Commitment and Announces Private Sale and DEX Listing appeared first on Invezz.

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