Blockstack PBC raises $23 million in token offerings

According to an announcement from the firm, Blockstack PBC has raised $23 million across its U.S. SEC-qualified and non-U.S. token sales. Investors in the sale include Union Square Ventures, Lux Capital, Recruit Holdings, Arrington Capital, Hashkey Group, Fenbushi Capital, Frontier Ventures, Spartan Group, among others. Though an exact breakdown was not provided Blockstack was seeking up to $28 million from both accredited and non-accredited investors while a concurrent Reg S could raise an additional $10 million from non-U.S. investors. In addition to the $23 million Blockstack is in discussions with international investors for an additional $5 million plus round which may be distributed in a separate private placement or in a follow-on SEC-qualified offering.