SOMA is a software startup backed up by blockchain technology and its purpose is to combine social and e-commerce related fields by providing a “social marketplace” experience. The startup received a hefty one million Euro in government and private funding recently.
SOMA is also involved in the verification of items and goods. It was recently carrying out a funding project to improve its growth and progress to increase its range of influence. Bearing this in mind, SOMA has recently announced that it has hit over a million Euro (€1.1M ) mark in its bridge funding project.
This was made possible because of the investments from the government of Finland and some private investors. The co-founder of SOMA is very optimistic on the growth of SOMA and gave a statement on the situation saying that SOMA is currently headed in a good direction.
Right now SOMA plans o providing its services to a small group till the month of June and will expand and offer its services to a larger audience by the month of July.
The bridge funds are set to be used for doing more research on the market, gain more users and to work and focus on the product. SOMA has already agreed to sell the product to more than fifty brands
In order to increase the customer count, SOMA is providing limited edition watches and discounts.
The co-founder of SOMA gave a statement saying that SOMA’s partnerships are proving to be beneficial as they are helping in making this project a success.
They understand the motivation behind the project and want to make it successful. Important watchmakers like Fernando Ronzon, Olivier Mory, Sartory-Billard and ErridiBi to name a few are helping SOMA
According to the co-founder of SOMA, the users will be able to carry out different tasks on a single platform.
Even though others are trying to achieve similar goals but what really sets SOMA apart is its integration of parallel functions into one product. SOMA’s Series A round is set to start in 2020.