Ambrosus, a blockchain IoT platform for supply chains, has announced that it has surpassed the US$30 million mark in its ongoing token presale.

The Ambrosus token sale will take place from September 13 to October 12, 2017, where participants can use ETH and major fiat currencies to participate in the sale. The Amber token (“AMB”) conversion will occur at the token sale rate of 1 ETH = 1000 AMB which will be the price of Amber tokens at the public token sale on September 13.

Commenting of the presale achievement to date, Ambrosus Co-Founder and CEO Angel Versetti:

“Our token sale participants, many of whom are early adopters of Ambrosus, see value in a platform that assures the quality, safety and origins of life-essential products. By combining high-tech sensors, blockchain technology and smart contracts, Ambrosus ensures the transparent and efficient recording of supply chain data to a blockchain that can be accessed by anyone.”

The token sale will be capped at 100 million CHF (approximately US$100,080,000). Ambrosus intends to use the proceeds primarily towards research and development of the Ambrosus protocol, API and ecosystem (35%), research and development on Ambrosus sensor systems (25%) and other critical uses. In addition, Ambrosus also plans to allocate approximately 10% of proceeds towards a food quality research lab.

“Proceeds secured through our crowdsale will continue to fuel the development of a better ecosystem for the global commodities markets. Given the enormous scope and far reaching potential of this project, we have set a hard cap at 100 million CHF, which opens the door to widespread community participation,” added Versetti.

In line with its mission to create value in the global food market, Ambrosus recently launched the Ambrosus p2p Marketplace, which enables buyers to browse a range of offers from international food producers and track the quality and conditions of this food at every stage of production and throughout the transportation process.

Ambrosus is the first blockchain project to become an official partner of the United Nations 10YFP, which is responsible for the implementation of the Sustainable Development Goals. Officially endorsed by EIT Food and SQS (Swiss Quality and Safety Association), Ambrosus has received financial backing from the Government of the Canton of Vaud, Switzerland, according to the official release.

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