COSIMO Ventures, an investment company with offices in Boston and Dublin, has invested $3 million for a seed investment in Oneiro Ltd.
Oneiro is a new developer of technology innovations in blockchain and cryptocurrency. This investment is one of the largest for a cryptocurrency company established in the UK and part of the organisation’s core technology development team will be based in Dublin. It is focused on developing technologies around decentralised and secure cryptocurrency.
COSIMO invests in, and develops partnerships with, deep technology companies in early development in the blockchain and cryptocurrency sectors as well as artificial intelligence (AI), Internet of Things (IoT), virtual reality, augmented reality and big data.
Ciaran Hynes, Managing Partner at COSIMO Ventures, said: “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.
“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.”
Ken Lang, CTO of COSIMO, said: “We’ve built a team of experienced professionals with a wealth of experience across many different segments and markets. Our innovations in the cryptocurrency space will leverage best practices and lessons learned from the markets.”