Blockstream’s CEO Adam Back has spearheaded a funding round of 21 million Swedish krona ($2.2 million) for the Swedish health tech firm H100 Group AB, which recently announced plans to start acquiring Bitcoin.
On May 25, H100 revealed that the capital, obtained through 0% interest convertible loans, would be utilized to purchase Bitcoin as part of its strategic shift towards Bitcoin acquisition, disclosed on May 22.
Back, a veteran Bitcoin cypherpunk, invested approximately $1.4 million, while the additional $800,000 was provided by the investment firms Morten Klein, Alundo Invest AS, Race Venture Scandinavia AB, and Crafoord Capital Partners.
Adam Back Spearheads A $2.2 Million Fundraising Effort
