Creandum leads $14 mln Series A round for bitcoin startup KnCMiner

Nordic venture firm Creandum has led a $14 million Series A round for KnCMiner, a Swedish maker of bitcoin mining equipment. Tech investment bank GP Bullhound provided financial advice to KnCMiner on this transaction.

According to the company, the capital infusion will be used to expand the firm’s mining operations.

On the funding, Sam Cole, KnCMiner’s co-founder, commented: “In tandem with our considerable investments in IP, this round of funding will further cement our lead in hardware design and deployment of cryptocurrency services.”

Founded in April 2013, KnCMiner has sold more than $70 million in bitcoin mining equipment and generated $40 million in revenue.

 Photo courtesy of Shutterstock

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