ImToken Ethereum Wallet Raises $10M from IDG Capital in Series A Funding


ImToken is a crypto wallet that is based out of China, which first entered the community in 2016. In an announcement on May 31, 2018, they received $10 million in Series A funding from IDG Capital. IDG Capital is a firm that often makes investments in new crypto or fiat opportunities, making imToken their latest risk. Their investments have made them fairly well known in the crypto industry, since this project is one in a major series of startups.

When imToken originally joined as a wallet service that was exclusively dedicated to the use of Ethereum tokens. However, in the last two years, they now support over 30,000 different tokens, allowing consumers to use their wallet for air drops and ICO funds.

In the release that they signed with the firm, imToken indicated that their first goal would be to widen their services to overseas businesses and to create new products with more staff members. Considering that the team only has 40 employees right now, this change will be a welcomed development for employment in their various offices.

Ben He, the CEO of imToken, wants his new employees to mainly be located in Singapore. However, that will not stop the crypto wallet brand from establishing a significant presence in Japan, South Korea, Vietnam, and other thriving Asian and African economies.

Along with imToken, IDG has gotten in on several other rounds of funding. Some of the most noteworthy investments they have made have included Coinbase’s $75 million series C round, a $50 million contribution to Circle, and BiKan’s $10 million startup.

To learn more information about imToken, visit https://token.im/.

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