DeFli Announce Series A Funding

DeFli Networks LLC are delighted to announce the completion of our Series A funding round. The round was structured as follows: $15.5M in bond issuance, $7.5M in equity investment at a valuation of $82M and $175,000 in $FLI token pre-sale. The equity element was led by the venture fund arm of a well known crypto currency exchange and featured other investors including Boeing, Dell Technologies & MJAG. The bond issuance was funded by a consortium including JPMorgan and DTI. The pre-sale saw investments from EV3.

The funds will be primarily used to manufacture 28,000 devices that will perform various roles within the DeFli eco-system and will be available to buy and host from members of the public from May 2024. In addition, funds will be committed to the development of our L3 blockchain and node network. The L3 chain is built specifically to handle time-series data with FFX encryption.

The round also saw the conversion of SAFE funding at 3% of total equity.

A nominated party from the lead investor will take on a board role with non-executive roles being taken by 3 other nominated members. In addition, the lead investor will provide a nominated party to the DeFli Foundation as well as custodial control of one of the signatory wallets for our Gnosis Safe.