AirFox Closes $6.5M ICO Pre-Sale
Summary
A TechStars portfolio company backed by Project 11, Launch Capital, and NXT Ventures, among others, AirFox aims to raise up to $15m in a token sale which will open at 10 a.m.Founded by ex-Googlers Victor Santos and Sara Choi in January 2016 and incubated at Harvard’s Innovation Lab, AirFox provides affordable data plans for US-based prepaid wireless carriers.With the launch of its ICO and new blockchain consumer platform, the company aims to enable unrestricted access to the internet for anyone with a prepaid smartphone.The company will use the ICO funds to develop a microloans program that enables peer-to-peer lending in AirTokens at more affordable rates and expand abroad to emerging markets.The AirToken micro finance system will allow peer-to-peer lending in Air-Tokens at more affordable rates using the mobile data and airtime ecosystems that already exist in these markets.