Synthestech claims ICO record, netting $300K prior to presale
Research startup Synthestech has raised its "hard cap" — or maximum amount planned for pre-ICO — prior to launch, setting a new record for fundraising, according to a press release.
The team said that major interest came from investors in Russia, China and South Africa, who helped the project reach its hard cap on Dec. 29. A planned presale was planned for launch Jan. 9, to be followed by an ICO beginning Feb. 1.
Synthestech develops technology for cold nuclear transmutation of low-value chemical elements into valuable elements and isotopes at a lower cost than traditional methods of production.
Experiments have produced metals such as platinum, iridium and ruthenium, the release said. Many of the obtained elements are irreplaceable in modern medicine, industry, automobile production and other technologies.
Synthestech said that the ICO will allow the team to continue its research and transfer resulting technology from the experimental to the industrial realm.