Panxora leads $1.5m USD medical blockchain token fundraising

Panxora Digital Ventures, has announced it will an investment round to support dClinic in raising $1.5 million the launch and listing of its VIC Rewards Utility Token (VIC Coin).

dClinic has been delivering blockchain solutions to the MedTech industry since 2018, with $10 million in contracts already being secured.

Panxora has attracted other investors to this round by using its hybrid funding solution. It initially forms a syndicate of accredited investors who provide capital needed to finance a rewards token, it then secures listing on an Asian and Korean cryptocurrency exchange.

Members of the syndicate receive access to multiple revenue streams for their early commitment to the project. dClinic will then use this capital to promote a token sale on the ChainX and LAToken exchanges.

The money raised will allow the company to continue developing the platform which already has 50 merchants committed to the January VIC Rewards website launch, and an expected 200 merchants by early next year.

Marcie Terman, COO at Panxora, said: “dClinic is part of a new generation of companies that utilise blockchain to improve people’s lives while generating a healthy return for founders and investors.

“When I first met the team, I realised they were working to achieve something special. We are pleased to be working on the VIC Rewards project and will continue collaborating with dClinic as the business grows.”

Dr Richard Satur, CEO at dClinic, added: “In such a data-heavy industry, it’s promising to see blockchain remove siloes. Increased transparency and security of medical information will enable us to provide a holistic approach to healthcare. However, this is not sustainable without token adoption, as the industry needs more merchant and consumer participation.

“Governments risk bankruptcy if they continue funding healthcare with outdated systems. We’re excited to work with Panxora as they provide expertise that is helping us attract early stage investors in a difficult market. This initial meeting of minds is merely the first step in our relationship and we look forward to working together to reform the healthcare space.”

For more news, guides and cryptocurrency analysis, click here.