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Jaguar-backed blockchain startup DOVU raises $6.2M in token sale
DOVU, a blockchain transport data initiative backed by Jaguar Land Rover's innovation arm InMotion Ventures, has raised 20,000 ETH (approximately $6.2 million) in its token sale.
The two-week-long sale attracted participants from over 40 countries. The startup said that the amount raised raised puts the project in a strong position to move forwards to build and market its core product.
“Our token sale is not the end of our journey, but the beginning. DOVU has hit its funding milestones, and we're proud of the team and community! Over the course of the next few months we'll be announcing exciting partnerships and protocol developments. We're going the hire the best blockchain talent, so if that's you, reach out. Now the hard work starts,” Irfon Watkins, DOVU CEO, said.
DOVU aims to equip the transport industry with high-quality datasets. It will create a secure blockchain-based marketplace for mobility data, sourced from a large number of grassroots users, to solve the problems faced in obtaining data of the necessary scope and granularity. Those who submit data to the network will be rewarded with DOV tokens, which are also the means of payment for developers to access this aggregated data.
In its official release, DOVU said that bounties will be distributed over the course of the next month, and exchange partners will be announced as they are arranged. The bonus for token holders who were affected by the DDoS issues at the open of the crowdsale will also be distributed in due course.