COBALT advised technology investment fund Rubylight on investment into London-based Sweatcoin. Sweatcoin recently announced completing $5.7-million initial “seed stage” round of financing. Rubylight was among the investors together with Goodwater Capital, Greylock Partners’ Discovery Fund, Seedcamp and others.
Sweatcoin is a smartphone app that pays people to be physically active. The app pays its users in digital “sweatcoins” for how many steps they take daily. These sweatcoins can later be exchanged for fitness-related products and services.
Our work comprised advising the client during the entire transaction. The client was advised by partner Kristel Raidla-Talur and associate Greete-Kristiine Kuru
More information regarding the investment round can be found here.