On October 18th, Bitcoin-based (RSK) supply chain platform “TEMCO” announced their successful investment and strategic partnership with Venture Capital/Accelerator “Foundation X”.
TEMCO is a startup that utilizes blockchain technology to connect isolated supply chains and develops services to utilize the newly interconnected data. From the corporate-side, TEMCO provides companies with the Business Intelligence (BI) tool, an analytics tool that helps companies to efficiently access the interconnected data on the blockchain. From the consumer-side, TEMCO is developing applications where consumers can transparently view the distribution process from the beginning to the end.
Jay Hwang the CEO of “Foundation X” and a Partner at “FuturePlay” strongly supports TEMCO’s ambitious goals by saying, “It is very exciting that the first Bitcoin-based dApp in Korea is supported by Foundation X. Also, one of the reasons for the investment is the global partnership that TEMCO has established. It was impressive how TEMCO has a good relationship with RSK, which is one of the notable technical partners.”
Foundation X will not only act as TEMCO’s investor, but also as an accelerator. The Foundation X team will help TEMCO reach its true potential by investing in key technologies, supporting TEMCO’s upcoming TGE (Token Generation Event), and provide consultation for business model development.
Scott Yoon, the CEO and co-founder of TEMCO stated, “We are honored to be supported and funded by a leading accelerator such as ‘Foundation X’. The TEMCO team will work hard to meet the high expectations set up by the high-profile partnership.”
“Foundation X” was established to develop blockchain startups and is a subsidiary set up in Singapore by one of South Korea’s leading accelerator “FuturePlay”. Foundation X already has well-established portfolios on blockchain project development, most notably accelerating the “Airbloc Protocol” and “Carry Protocol”.