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IOTA Foundation launches $10 million investment fund at Investopia 2024

IOTA Foundation launches $10 million investment fund at Investopia 2024
24 Mar 2024 12:31

ABU DHABI (WAM)

Abdullah bin Touq Al Marri, Minister of Economy and Chairman of Investopia, attended the unveiling of a new investment fund valued at $10 million by the IOTA Ecosystem DLT Foundation during Investopia 2024. The fund's primary goal is to promote the development of TradeTech solutions and support the expansion of start-ups and venture projects based on digital technology initiatives and the tokenisation of tangible assets.

The announcement aligns with Investopia's vision to inspire entrepreneurs to expand into new economic sectors by offering the necessary tools and opportunities to foster the growth and prosperity of their innovative projects.

The fund, introduced in partnership with TLIP, a specialised digital platform for trade data storage and exchange, aims to enhance the trade technology landscape and foster a more interconnected, efficient, and accessible global trade system. Additionally, it seeks to offer trade financing solutions to businesses and governments. This initiative aligns with the UAE’s commitment to advancing technologies applied in global trade with the support of Investopia. The focus will be on supporting UAE-based start-ups across Africa.

These investments are a step forward to redefining the digital trade and finance landscape. By fostering a supportive ecosystem for technological innovation, IOTA will have the opportunity to unlock new possibilities and opportunities for seamless and efficient global trade, benefiting societies and economies around the globe.

Investopia 2024 played a crucial role in facilitating the launch of the new investment fund, offering an ideal platform to showcase IOTA's innovative solutions to the global community of investors and decision-makers. Additionally, it enabled the Foundation to establish effective communication with partners.

The announcement aligns with the UAE's commitment to enhancing its trade technology and digital solutions, solidifying its position as a global hub for technology and innovation. The UAE is a leading trade hub that plays an active role in reshaping global trade mechanisms by leveraging state-of-the-art solutions and advanced technologies. These endeavours align with the "We the UAE 2031" vision to become the international capital of the new economy over the next decade.

IOTA, registered with the Abu Dhabi Global Market, is focused on developing the next generation of decentralised governance technologies. They aim to build a new digital economy by redesigning how people and devices connect and exchange information and value. The Foundation leverages cutting-edge technologies such as blockchain, digital currencies, distributed data technology, the Internet of Things (IoT), and other modern financial technology applications. Through collaboration with a global network and partners, IOTA aims to make a sustainable impact by researching and developing technological advancements.

Investopia 2024, held in Abu Dhabi for two days at the end of February, brought together top investors, businesses, economy leaders, experts, and entrepreneurs. The event fostered an environment conducive to networking, collaboration, and identifying potential joint investment opportunities. 

Over 2,500 participants attended, including more than 90 speakers who discussed various crucial investment themes and the new economy, including digital economy, tourism, innovation, sports technology, modern financial technologies, healthcare, green economy, and venture capital investments.

Source: WAM
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