Swytch Gets Reflective Venture’s Multi-million Dollar Strategic Growth Investment
Blockchain-based clean energy solution provider, Swytch, has said it has accepted a multi-million dollar strategic growth investment from a privately owned and managed blockchain technology fund, Reflective Venture Partners.
The deal is expected to fund the growth and development of the Swytch platform that tracks and verifies the carbon impact of renewable energy generation and other sustainable actions.
The funding also covers strategic and technical collaboration between Swytch and the Rchain platform.
— Swytch (@Swytchio) June 19, 2018
Is Swytch and Reflective Ventures A Good Fit?
An indeed innovative platform, the company said Swytch uses smart meter and blockchain technology to reward companies and people who reduce carbon emissions the most.
It leverages an open-source core that uses artificial intelligence and machine learning to determine how much carbon is being displaced and therefore how many Swytch tokens to award.
According to Steve Careaga, the general partner of Reflective Venture Partners, the Swytch team understands the global energy financial dynamics and are doing everything right to disrupt the energy sector.
Partnership For Strategic Growth
Swytch said the partnership is very strategic considering that Reflective Venture Partners itself is the product of an ongoing strategic partnership with RChain Cooperative, a third generation blockchain platform that will allow developers to build self-sufficient, high-performance applications with built-in industrial grade scalability, security and speed.
For Evan Caron, Co-founder and Managing Director of Swytch, the deal with Reflective Ventures is top move as the venture capitalist is well recognized as a long-term investor in blockchain projects with a higher purpose.
The partnership announcement follows the release of the Swytch token sale which is open to all. To sign up, visit Swytch.
About Reflective Ventures
Based in Seattle, WA, Reflective Venture Partners is a privately owned and managed venture firm that originates from an ongoing strategic partnership with RChain Cooperative, a next generation blockchain applications platform that is currently in development. With a mandate to grow the RChain ecosystem, Reflective Venture Partners provides strategic financing and designs token generation events (TGEs) for innovative blockchain specific dApps and complementary technologies that have strong growth potential for the RChain blockchain ecosystem. For more information, visit www.reflectiveventures.io .
Austin-based Swytch is a blockchain platform that tracks, verifies and rewards those reducing the global carbon footprint. An Open “Oracle” at the heart of the system acts as a distributed authority, awarding Swytch tokens to people, companies and organizations that make a meaningful and measurable difference in reducing emissions. For more information, visit Swytch.io or follow Swytch on Telegram, Medium and Twitter.
All registered or unregistered trademarks are the sole property of their respective owners.