Web3-focused investor Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has joined up as a cornerstone investor in a funding round into Switzerland-registered, AI-powered infrastructure finance platform Silta Finance.
The principal convertible loan agreement of US$50,000 at a pre-money valuation of US$5 million was executed through Coinsilium’s 100%-owned Gibraltar-registered subsidiary Seedcoin.
Seedcoin has an option agreement of up to US$500,000 in new shares in Silta at a pre-money valuation of US$7.5 million, valid for up to 12 months.
If exercised in full, Seedcoin will hold a 6.7% stake in Silta.
Eddy Travia, chief executive of Coinsilium, commented: “We are delighted to further support Silta Finance and its highly experienced team led by Ben Sheppard in this latest funding round, as cornerstone investors."
Travia noted that Silta’s “advanced AI methodology” aims to tackle the time-consuming and cumbersome feasibility and due diligence processes involved in infrastructure projects.
“We see this investment in Silta as a great fit for Coinsilium’s project portfolio and we will be following their progress very closely going forward,” he said.
Silta has crafted a proprietary model featuring 360 data points for evaluating the bankability of infrastructure projects and has successfully conducted pilot tests in sectors including solar energy and high-speed drone highways.
“The fresh injection of capital from this current funding round will be instrumental in advancing our next developmental phase, particularly in integrating legal and sustainability dimensions into Silta's AI capabilities,” said Silta co-founder Ben Sheppard.
Sheppard said Silta has a robust sales pipeline with an estimated US$12 million in fees, stating: “We are eagerly looking forward to the next 12 months as we work to introduce Silta AI to a global clientele."