TAIKAI, a blockchain startup based in Portugal, has raised €2 Million in seed funding to grow its Telos-based Hackathon management platform.
The Germany-based firmFinLab EOS VC Fund led the round, which counted with participation from existing investor Bright Pixel and new investor Portugal Ventures. The new funding will support the startup’s plans to expand its operations to Europe and Brazil, as well as developing its hiring solutions for companies and startups, increasing the portfolio of services offered by the platform.
Founded in 2018, the Portugal-based startup was originally envisioned as an open innovation platform that would help Portuguese companies to reach new solutions and products via unique challenges. These would connect developers, designers, and other professionals, giving place to innovation in terms of new ideas, products, and talents around the world. Now, the startup is making this vision a reality using its Talos Network-based solution.
Telos is recognized by Blocktivity as one of the world’s most active blockchain platforms and a high-capacity network. The network features a third-generation blockchain governance system, including smart contracts and advanced voting features. Telos offers TAIKAI the opportunity to have competition evaluated in a fully transparent and audible manner by any stakeholder.
TAIKAI participated in Telos’ Boost Accelerator program as a part of the partnership between both companies. This partnership will allow the startup to receive support from the Telos Foundation in technical implementation, marketing, and business development. Douglas Horn, Chief Architect of Telos, referred to this milestone by stating:
“We congratulate TAIKAI for raising €2m in funding for their innovative project and cannot wait to see where they grow from here. We are glad that the governance capabilities of Telos can support so many projects like TAIKAI,”
With the Covid pandemic pushing companies towards a remote working model, TAIKAI has seen incredible growth over the past months, creating a community of more than 50,000 members. The blockchain startup believes that this approach has the potential to facilitate online recruiting and drive innovation at a time when demand for such services is on the rise.