• Ljubljana, Tivoli park
  • Wooden bike Woodster, photo: M. Kolakovič

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Slovenian start-up raises over US$10m in five minutes

Ljubljana, 06 September (STA) - A new cryptocurrency venture from Ljubljana raised more than US$10m in four minutes and 42 seconds in an Initial Coin Offering (ICO) on Tuesday, which is one of the most successful global fundraising campaigns so far, the team Viberate said.

The team sold all of its 120 million cryptocoins or vibe tokens worth more than US$10m, which will be available for trading on the cryptocurrencies stock exchange LiveCoin.net on 6 October, a day after the official closure of the fundraising campaign.

Viberate plans to use the funds raised to develop a platform connecting musicians with event organisers, and to increase the number of its staff.

"Our vision is to change the world of live music, so we're very happy that we got a wide support from people around the world," the CEO and founder of Viberate, Matej Gregorčič, said.

He is confident that the team will gradually succeed with hard work.

Musician and producer DJ Umek is also among the founders of Viberate, while its advisers include the founder and CEO of ABC Accelerator, Dejan Roljić and the founder and CEO of high-tech company Cosylab, Marko Pleško.

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