KR1 KR1 Plc

 
TIDMKR1 
 
30 March 2022 
 
                                    KR1 PLC 
 
                           ("KR1" or the "Company") 
 
                             Investment: Subspace 
 
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to 
announce that the Company has invested a total of US$1,500,000 into Subspace 
Labs Inc. ("Subspace"), for a yet-to-be-determined amount of tokens. The 
investment took place as part of Subspace's US$32.9 million strategic financing 
round led by Pantera Capital with participation from other respected investors 
such as Coinbase Ventures, Alameda Research and Hypersphere Ventures. 
 
Subspace Network is a new eco-friendly, scalable layer-one blockchain that 
enables massively scalable on-chain storage and computing, without compromising 
security or decentralisation, and solves the blockchain "bloat" problem at the 
core, through a novel combination of consensus, storage, and computing. 
Subspace lets developers run Web3 apps at Internet scale, providing a simple 
interface for quickly deploying multi-chain decentralised apps that auto-scale 
with demand. It seamlessly integrates with existing blockchains, layer two 
protocols, and decentralized applications, allowing it to serve as a 
foundational infrastructure layer for the entire Web3 ecosystem. Subspace 
intends to empower builders to unlock the next wave of crypto adoption by 
supporting NFTs, GameFi, and the Metaverse at Internet scale. 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
 
"Subspace is a big vision and quite a radical approach relative to current 
blockchain architectures and designs. They had a successful seed round with 
world class investors and this fundraise allows them to drastically scale up 
their team. Historically, we have liked to invest in and support radical 
technologies with strong founding teams, especially in the infrastructure 
vertical, and Subspace fits this disruptive thesis perfectly. " 
 
The Directors of KR1 plc accept responsibility for this announcement. 
 
                                   --ENDS-- 
 
For further information please contact: 
 
KR1 PLC                                                 +44 (0)1624 630 630 
George McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              +44 (0)20 7469 0930 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         +44 (0)7711 387 085 
Ed Berry                                              KR1@fticonsulting.com 
Laura Ewart 
 
About KR1 plc 
 
KR1 plc is a leading digital asset investment company supporting early-stage 
decentralised and open source blockchain projects. Founded in 2016 and publicly 
traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the 
longest and most successful track records of investment in the digital assets 
space by investing in decentralised platforms and protocols that are emerging 
to form new financial and internet infrastructures. 
 
www.KR1.io 
 
 
 
END 
 
 

(END) Dow Jones Newswires

March 30, 2022 09:50 ET (13:50 GMT)

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