New Delhi: Runs Capital Private limited (Runs.com), a Singapore based corporation announced that it has mandated Panamax Capital, LLC as its financial advisor in a private placement offering of $15 million in Runs Tokens and $5 million in shares. The private placement will accelerate growth for the company by generating capital on the strength of the unique Runs.com business model.
Runs.com is a decentralized eCommerce platform built on digital trust, imbibing the blockchain philosophy of openness and transparency. The company aims to give the control of data and decision-making back to consumers. Runs.com is building a global community around experiences in 25 countries across the globe.
Giri Devanur, CEO of Runs.com adds, "It is no secret that blockchain technology is evolving at a rapid pace the world over and we are happy to be a part of this transformation. In the existing model, customers and vendors have little or no control over the value chain. Blockchain in eCommerce will mean that customers and vendors have visibility all the way to its point of origin – thereby revealing important details crucial for quality assurance and safety. At Runs.com, we are happy to be at the forefront of such technological advances. I am also pleased to partner with Panamax Capital who are helping us raise the next round of capital to power our growth plans."
Panamax Capital, LLC Chief Executive Officer, Thomas Blinten said, " I am excited to partner with Runs.com to advise on their capital strategy for their global expansion. We are very impressed with the quality of the management team, the massive size of the markets and the cutting-edge technology of Runs.com. We believe that this capital raise will accelerate the growth of Runs.com."
Dr. Artit Wangperawong, Co-Founder and Chief Technology Officer at Runs.com points out "Blockchain technology is uniquely poised to disrupt how companies operate. Particularly for eCommerce, merchants and consumers would benefit from a decentralized platform operating on a blockchain to reduce transaction overhead and costs. We are investing in this technology now to prepare for the demands of the new age economy. The success of our efforts could pave the way for how we transact in the future."
Runs.com will be disrupting traditional ecommerce platforms which use SKU's as the fundamental way to identify units. Moving away from the conventional SKUs, Runs.com has patented a new method of identification and tracking called XKU - 'Experience Keeping Unit'. Runs.com XKU's will cover the 3-S parameters - Story, Source and Sustainability.