Creandum leads $14m series-A for KnCMiner

The Swedish VC's investment will help KnCMiner expand its operations in mining of cryptocurrency – digital cryptography currency such as Bitcoin and Litecoin. Additionally, the fresh capital will help the company improve its Bitcoin-related services and research and development of cryptocurrency hardware.

Technology investment bank GP Bullhound was the exclusive financial adviser to KnCMiner, as well as an investor in the funding round.

Company
KnCMiner designs microchips and software aimed at cryptocurrency mining hardware, cloud services and mobile apps.

The Stockholm-based company has seen revenues total $40m since it was founded in April 2013, as a joint venture between ORSoC and Kennemar & Cole.

People
Sam Cole, Andreas Kennemar, Marcus Erlandsson and Michael Unnebäck are the founders of KnCMiner. Managing director Per Roman represented GP Bullhound.

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• Creandum