Sigma Chain, a blockchain technology company, announced on Nov. 12 that it signed an MOU with U.S. accelerator company USAKO Group on raising an investment fund of $10 million to cooperate in the blockchain business to enter the U.S. market.
Located in Los Angeles, Houston and St. Louis in the U.S., USAKO Group is a company established with leading U.S. venture companies, chambers of commerce, and private and government economic development agencies.
In particular, USAKO Group, a global partner for Seoul startup hub, was established to select promising startups in Korea and the United States to help them make inroads into the global market and attract investment, and is currently operating in Seoul and the U.S. cities of St. Louis, Los Angeles and Houston.
Ko Han-young, CEO of USAKO Group, said, "We have agreed to invest $10 million by highly appraising the Sigma Chain's technological prowess such as the DDPoS algorithm, a new technology that has officially certified 300,000 TPS and completed obtaining patents from KOLAS."
"We are going to sign a main contract at the U.S. headquarters sometime in November," he said. "We will support Sigma Chain's entry into the U.S. and establish practical cooperative systems such as support service establishment and close mentoring as soon as possible in order to vitalize global markets."
Meanwhile, Sigma Chain CEO Kwak Jin-young said, "Sigma Chain will advance to the U.S. Sigma Chain USA, a U.S. corporation, will be established. In cooperation with USAKO Group, a global accelerator, we decided to enter the U.S. market with the aim of raising $10 million in investment funds."
