Covee Network
Latest round
- Seed
Last raised
- May 2018
Total raised
- $1.6M
Investors
- 2
About Covee Network
Covee Network AG, founded in 2017, is based in Zurich, Switzerland. The company focuses on utilizing blockchain technology to facilitate collaboration among professionals across various sectors.Covee Network AG primarily offers the Covee Protocol, an innovative platform that utilizes blockchain technology to facilitate collaboration among knowledge workers. This protocol is embedded in Ethereum-based smart contracts, enabling a unique incentive mechanism that fosters trust and engagement among project participants. The platform allows users to stake their involvement in projects, akin to a security deposit, which enhances accountability and motivation. End users include professionals from various sectors such as finance, genomics, engineering, and e-commerce, who seek to collaborate without the constraints of traditional corporate structures. The service aims to solve issues related to team management, performance evaluation, and decision-making, ultimately leading to more efficient and decentralized project governance.Covee Network AG generates revenue through its innovative platform by facilitating transactions that occur within its ecosystem of knowledge workers. Users engage with the Covee Protocol by staking their contributions to projects, with rewards distributed based on peer evaluations of performance. The platform operates on a model that promotes collaborative governance, removing intermediaries and allowing for direct interactions between participants. Revenue is derived from transaction fees associated with the use of its smart contract infrastructure, as well as potential partnerships that leverage the platform's capabilities. The upcoming strategy includes the development of additional features within the Covee Protocol to enhance user experience, although specific product release dates are not provided. The company plans to target expansion into new markets across Europe and beyond, aiming to establish a presence in emerging markets by 2024.
Who invested in Covee Network
2 investors across 1 round
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Funding rounds
Seed
May 1, 2018
Amount
$1.6M
Investors
Questions about Covee Network
Who invested in Covee Network?
Covee Network has 2 investors on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has Covee Network raised?
Covee Network has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did Covee Network last raise money?
Covee Network's most recent round on record is a Seed, in May 2018.
What does Covee Network do?
Covee Network AG, founded in 2017, is based in Zurich, Switzerland.
Where is Covee Network headquartered?
Covee Network is headquartered in Zurich, Switzerland.
Which VCs invest in companies like Covee Network?
Among active investors with capital left to deploy, Index Ventures, European Investment Bank, Balderton Capital and Sofinnova Partners back software companies at Covee Network's stage. Their profiles are linked below.
VCs backing software startups at Seed
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