COSIMO Ventures, an investment firm with offices in Boston and Dublin that’s focused on transforming promising deep technology companies into global industry leaders, has committed to invest $3 million seed investment in Oneiro Ltd., a new developer of technology innovations in blockchain and cryptocurrency.
The investment is one of the largest for a cryptocurrency company established in the United Kingdom. Oneiro will have part of its core technology development team based in Dublin, and is establishing its operating headquarters in Boston. This trans-Atlantic strategy reflects COSIMO Ventures’ unique expertise in supporting collaboration and new-company growth between the UK/Ireland and the United States. COSIMO is committed to partnering with promising early stage deep technology companies in the blockchain and cryptocurrencies sectors, as well as in the artificial intelligence, Internet of Things (IoT), virtual reality, augmented reality, and big data industries.
“We believe that Oneiro will bring the potential of the cryptocurrency market into a completely new realm as the acceptance, and use, of digital currencies becomes more mainstream,” said Ciaran Hynes, Managing Partner at COSIMO Ventures. “We are impressed by the experience and forward thinking of the team at Oneiro. This is one of the most exciting projects we’ve seen, and we’re pleased to support them as part of COSIMO’s investment strategy to offer unique technology solutions for the commercial markets.”
Oneiro is focused on developing technologies around decentralized, secure, and dependable cryptocurrency. Blockchain technology has enabled the use and management of digital currencies worldwide, and Oneiro is positioning its technology to be an integral part of the market’s future.
“We’ve built a team of experienced professionals with a wealth of experience across many different segments and markets,” said Ken Lang, CTO of COSIMO. “Our innovations in the cryptocurrency space will leverage best practices and lessons learned from the markets.”