Singapore bitcoin ATM maker Tembusu announced today it has closed its seed financing round and raised more than S$ 300, 000 (US$ 236, 600), just one and a half weeks after launching the first machine and after the company itself was valued in S$ 5. 1m (US$ 4. 02m).
Company spokesman Jarrod Luo said the extra capital might form the bulk of the working funds the startup requires in order to “ fulfil its exceptional machine orders in a well-timed fashion”, including stockpiling raw materials and expanding its group.
Tembusu was the first company to open the bitcoin ATM in Singapore, and it is also the first to design and manufacture its machines there. It is also Asia’ s first home-grown bitcoin ATM producer, getting just beaten South Korea’ s Coinplug to release by a couple of days.
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