Exantech, a recently launched VC fund by Malta-based EXANTE, announced its maiden investment of $10 million in Comino, a plug-and-play cryptocurrency miner that doubles as a space heater.
Comino is a silent residential GPU-based miner with liquid cooling, designed to automatically select the most profitable cryptocurrency to mine at any time but also allow remote management.
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Anatoly Knyazev, СEO of Exantech, said: “We have a very bright view of the mining-market. We expect this sector to grow by $5 to $7 billion in the near future. Since 2012 EXANTE has been developing and innovating the cryptocurrency ecosystem so it made sense that the first investment of this fund would be a miner-startup: Comino.”
Evgeny Vlasov, CEO of Comino, added: “Reliable support and the significant experience of Exantech’s founders allows us to materialize our vision: to provide smart warmth for each household. Money raised in this round will go towards initiating mass production as well as developing new generations of devices and software.”
Exantech invests and develops transformative projects in such areas as blockchain and artificial intelligence, handpicking fundamental ideas and professional teams. At the heart of the strategy is the vision that within 3-5 years there will be a massive transition to the use of blockchain technology as well as a significant leap in the development of AI.
Knyazev hopes that Exantech will become not only a venture fund but also a cryptocurrency think tank. All portfolio startups will have access to the fund’s tech expertise and office space, along with legal, accounting, and mentoring teams.