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At the end of March, all employees of the startup company were fired. They have received appropriate notifications. Almost a month later, Vincents Chartered Accounts would be selected as a third-party manager of the future bankrupt. An initial meeting of creditors is due to take place today.
Recall that the startup project was launched in 2015. He created a platform that tracks luxury items. These include jewelry, precious metals, paintings, collectible drinks, etc.
Over the years of its existence, the startup has been able to attract more than $ 51 million in investments. Additionally, the project received federal grants in the amount of $ 3 million.
Tencent, the tech giant that supported the startup, began leading the company's Series A investment round back in 2019. The amount was about $20 million.
Note that at the end of last year, one of the leaders in mining Core Scientific also declared bankruptcy. To do this, I submitted a corresponding application. The mining company used the US Bankruptcy Code, namely Chapter 11.