# OX Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ox-energy

- Industry: Financial Services
- Headquarters: Vilnius, Lithuania
- Website: www.123swap.finance
- Total disclosed funding: $0.2M
- Latest round: Seed (Nov 22, 2021)
- Investors on record: 2

## About

OX Energy Ltd is a digital asset company that provides innovative solutions for cryptocurrency exchanges, focusing on decentralized trading platforms for secure and efficient asset swaps.Founded in 2020 by Daniel Radionov, OX Energy Ltd operates from its headquarters in Vilnius, Lithuania. The company specializes in digital asset exchange solutions, having raised a total of USD 0.21 mn in a SEED funding round in November 2021 from Becker Ventures and Polygon Technology, marking its first significant investment deal. The current CEO is Tomas Ambrazas.OX Energy Ltd, through its platform 123Swap Finance, specializes in digital asset exchange solutions that facilitate seamless trading between various cryptocurrencies. Their core offerings include a decentralized exchange platform that allows users to swap tokens directly from their wallets, ensuring security and privacy. The platform caters to both individual investors and institutional clients, focusing on user experience to address challenges related to liquidity and transaction speeds in the growing decentralized finance (DeFi) ecosystem. OX Energy Ltd targets a global market, particularly in North America, Europe, and parts of Asia.In the most recent financial year, OX Energy Ltd reported a revenue of USD 102,383.10, with an EBITDA of USD 18,362.30. The company's revenue model is primarily driven by transaction fees from trades on their platform, supporting a steady flow of income as trading volumes fluctuate based on market conditions.To fuel its growth, OX Energy Ltd plans to expand its product offerings and geographic reach. The recent SEED funding of USD 0.21 mn will support these initiatives, enabling the company to enhance its platform features and launch new services aimed at increasing user engagement. Additionally, the company is targeting expansion into new markets in Asia by 2023, with a focus on increasing user access to its decentralized trading solutions.

## Funding rounds

- Seed, Nov 22, 2021, $0.2M — Becker Ventures, Polygon Technology

## Investors

- Becker Ventures (https://capitalatlas.ai/funds/becker-ventures) — Seed
- Polygon Technology — Seed