Shelf Raises $600k Bridge round at $10m Valuation

Shelf.Network - has raised additional $600k funding from an undisclosed Asian investor.

The round was followed by the network deployments on the Asian market in November and will serve Shelf’s used car trade ecosystem growth - for Asian and Eastern European operations. 

 “At this point, we are unable to disclose the investor name, but It’s is a long-established Publicly listed Asian automotive company, we hope our partnership and mutual goals will accelerate our growth and expand the range of services provided via the network” Lasha Antadze

Shelf founded in 2018 earlier raised $1.6 million from a range of international investors and Accelerators. The startup is operational in European and Asian markets, assisting used car dealers to expand the geography of sales to emerging markets. Shelf's uniqueness is in the distributed auctioning mechanism that allows running the same vehicle auction at multiple marketplaces in sync. and providing immutability of the entire process from trade to delivery. 

After its formation Shelf.Network quickly gained momentum and in just a year became one of the best real-world use cases of blockchain technology. The startup also won several consecutive awards in both the automotive and blockchain industries.

Those awards include:

• Winner of Frontier Innovation Award: as the Best Real World application of blockchain technology;
• Winner of BlockShow 2018 Award: as the best European blockchain startup;
• Techstars 2018 – graduate;
• Winner of Automeckanika Innovation Award
• Top global re-marketing solution for FleetEurope Summit