Satsuma Technology has completed its second convertible loan round, raising £163.66 million, with nearly £125 million secured in Bitcoin. This funding will strengthen its business strategy.
Successful Second Funding Round
The funding closed on July 28, exceeding the minimum target of $129 million by over 63%. The company reported strong interest from both crypto-native and traditional institutional investors.
Investors and Conversion Terms
The round was backed by top crypto funds including ParaFi Capital and Pantera Capital, alongside several London-based funds with over £300 billion in assets. The notes will convert to equity at $0.013 per share, pending shareholder approval.
Company's Bitcoin Strategy
Satsuma Technology is actively developing infrastructure for decentralized AI and is running its own Bittensor subnets. The company currently holds 1,126 Bitcoin valued at approximately $128.66 million, with an average purchase price of $115,149.
The fundraising solidifies Satsuma Technology's strategy in Bitcoin and decentralized AI, highlighting investor confidence in the company.
