Covee, a Zurich, Switzerland-based blockchain-based platform for decentralized teamwork, secured €1.35m in seed funding.
The round was led by LocalGlobe with participation from other investors that included Atlantic Labs.
Founded in Berlin in 2017 by CEO Dr Marcel Dietsch, COO Raphael Schoettler, and CTO Jochen Krause, Covee is building a blockchain-based platform for decentralized teamwork. Covee Network matches talent and skills with corporate clients, financial institutions, science labs, and universities that need to solve complex data-driven problems on data science problems. The network also solves the issue of project coordination, using blockchain tokens and a smart contract system to incentivize contributions and guarantee accountability for decentralized teamwork.
The company is now based in Zurich, where its team of eight full-time staff is working towards the alpha version of the network, which includes testing smart contracts on the Ethereum blockchain and will launch in mid 2018. They are also working on regulatory approval for their utility token, prior to a pre-sale later this year.