British tech firm Satsuma Technology has raised $217.6 million in its second convertible loan note round, with nearly $125 million settled in Bitcoin. The aim is to deepen the company's Bitcoin treasury strategy.
Funding Round Results
The raise, which concluded on July 28, surpassed its minimum target of $129 million by over 63%, driven by significant interest from both traditional institutional and crypto investors.
CEO Comments
Satsuma's CEO, Henry Elder, described this event as a "landmark validation" of the company's mission to fuse Bitcoin-native treasuries with decentralized AI infrastructure. "This moment represents a landmark validation of our core belief," he added.
Company Strategy and Future
The proceeds from this round will fund operations such as developer recruitment and Bitcoin acquisition through its Singapore-based entity, Satsuma Pte. As of August, the company holds 1,126 BTC valued at approximately $128.66 million.
Thus, Satsuma Technology continues to develop its treasury strategy using Bitcoin, attracting attention from both crypto and traditional investors.
