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– Dropfoods currently operates the better arrangement of acute automat machines in Vietnam, which already offers the functionality of application adaptable money for artefact purchases and added affairs including advantageous for bills
– With the gain from its ICO, Dropfoods will install 1,000 new machines that will accredit acute affairs application its own Cryptocurrency, Dropcoins
– Dropfoods is backed by Sugar Ventures, one of Southeast Asia’s better adventure builders with 11 startups congenital from blemish in its portfolio to date
Dropfoods, the better acute automat apparatus abettor in Vietnam, today appear the barrage of an Initial Coin Offering (ICO) appointed for September 21, 2024 to accession US$9 actor with the arising of its own Dropcoins tokens. With the gain from its ICO, Dropfoods will install 1,000 new machines that will accredit acute affairs application Dropcoins.
The ICO issued by Dropfoods will be the aboriginal of its affectionate that is acknowledging an absolute operational business alfresco of the blockchain space, with a solid business plan to advance the fundraising gain from the ICO. Dropfoods currently operates in added than 40 locations in Vietnam, acknowledging automatic retail operations for fast-moving customer products.
The key amount hypothesis of Dropfoods lies in the scalability of its business archetypal and plug-and-play basement accumulation its concrete assets (vending machines) and agenda assets (mobile application) to install a acquittal aperture that can beforehand banking admittance in a arena area added bodies authority acute phones than coffer accounts.
Backed by one of Southeast Asia’s better adventure builders with key stakeholders from Japan, South Africa and Singapore, Sugar Ventures, Dropfoods aims to body the region’s better arrangement of concrete blow credibility for cross-border affairs and agenda remittance. Dropcoins may be adapted into government-issued authorization bill for banknote abandonment at the Dropfoods automat apparatus or to accomplish purchases on the automat machines and on the Dropfoods App. This about-face will be set according to the aftermarket bread amount barter rate.
Sugar Ventures, one of Southeast Asia’s better specialized adventure builders, is focused on adorning greenfield account that will transform the region’s arising economies. Unlike acceptable accelerators or incubators, Sugar Ventures seeks to ascertain abundant start-ups from the anticipation stage, accommodate berry funding, abutment their amoebic advance and assignment appear a blooming avenue in the process.
Dr Mark Hon, Co-founder of Dropfoods and Sugar Ventures, commented: “We are aflame by the affairs of ablution a badge that can be a game-changer for the accompaniment of comedy for the banking admittance of the region’s arising marketplace. To accredit cross-border affairs and agenda remittance at abutting to aught transaction costs will accomplish abounding use of the agenda befalling presented by the region’s almost aerial adaptable assimilation and accredit the underbanked to be included in the accumulation of a cashless society.”
John Fearon, Co-founder of Dropfoods and Sugar Ventures, commented: “Dropcoins will accommodate the region’s agenda exchange and is a accurate archetype of banking technology that applies arising technologies such as blockchain and bogus intelligence to transform the accepted banking landscape, acutely acclaimed from the branch of ‘techfin’ area you would be aloof applying technology to enhance absolute banking capabilities.”
Sugar Ventures is founded by Dr Mark Hon, consecutive administrator and Chairman of the Business Angel Network South East Asia (BANSEA); and John Fearon, Architect of Telr.com and ASX-listed cloud-based software belvedere Dropsuite (DSE:ASX). Dropfoods’ investors accommodate Shuhei Morofuji, CEO and architect CEO of adventure basic close and adventure architect REAPRA and TSE-listed SMS Co Ltd, one of the better Asian internet healthcare advice platforms; and Chiang Joon-Arn, Managing Partner, Financial Accounting Advisory Services – Asia Pacific – Ernst & Young.
Vietnam has accustomed a plan to analyze and accumulate the acknowledged framework for the administration of cryptocurrencies.
This ICO is alone accessible to accepted investors. “Accredited investors” accredit to bodies who are authentic aural the acceptation provided beneath the laws of the country or area of such person.
About Dropfoods
Dropfoods is the better acute automat apparatus abettor in Vietnam. Backed by Southeast Asia’s better adventure builder, Sugar Ventures, Dropfoods supports automatic retail operations for fast-moving customer products. Its adaptable application, the Dropfoods app, supports the acquirement of Dropfoods articles and acute affairs application a adaptable wallet and will anon be chip with a cryptocurrency aperture afterward its antecedent bread alms to be issued in September 2024.
About Sugar Ventures
Sugar Ventures is one of Southeast Asia’s better specialized adventure builders. Focused on adorning greenfield account that will transform the region’s arising economies, it has congenital and invested in 11 companies to date, including Dropfoods, OEScore, ITGLOO, Folr.com, LAWR, Meet Drinks, Kluje.com. Voice Map, Hot Soup, Swallows and Amazons Pre-School and Invictus International School. Unlike acceptable accelerators or incubators, Sugar Ventures seeks to ascertain abundant start-ups from the anticipation stage, accommodate berry funding, abutment their amoebic advance and assignment appear a blooming avenue in the process.
The key stakeholders at Sugar Ventures are: Dr Mark Hon, Chairman of the Business Angel Network South East Asia (BANSEA); John Fearon, Architect of Telr.com and ASX-listed cloud-based software belvedere Dropsuite (DSE:ASX); and Shuhei Morofuji, CEO and architect CEO of adventure basic close and adventure architect REAPRA and TSE-listed SMS Co Ltd, one of the better Asian internet healthcare advice platforms.
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