Decentralized exchange protocol developer 0x raised $775,000 last year through a Simple Agreement for Future Tokens (SAFT) sale.
A Form D filing with the U.S. Securities and Exchange Commission from April 3 reveals that 22 investors participated in the sale.
The startup garnered $24 million in an initial coin offering (ICO) the company completed last August. At the time, 12,000 backers invested in the startup.
0x’s over-the-counter platform is aimed at enabling the exchange of different ERC20 tokens across varying networks, as previously reported. The platform was first released for testing in May 2017.
At the time, founder Will Warren said the startup would not provide a real-time public order book, instead focusing on the creation of open-source tools so that other startups could build their own decentralized exchanges.
To that end, the non-profit startup also developed several infrastructure tools, as previously reported. Warren told CoinDesk that he believed “the quickest path towards realizing our vision is by developing free tools that massively lower the barrier to entry for new for-profit exchanges and their respective markets.”