Advanced Blockchain AG (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is excited to announce that its blockchain-based spin-off, peaq Technology GmbH (peaq.io), has successfully closed its pre-series A which closed with a financing amount of around EUR 750,000.

This successful raise will help peaq prepare for its upcoming series A round. Furthermore, this raise will better position peaq for its engagements.

Peaq is an Advanced Blockchain AG spin-out that is dedicated towards building, offering, and expanding upon a base layer blockchain technology. peaq's blockchain is based off of directed acyclic graphs (DAGs), which are a type of distributed ledger technology. DAGs offer improvements upon speed and scalability when compared to traditional blockchains, while also offering reduced transaction costs. peaq used this technology as the inspiration for their product, the DAGchain(R)️, a blockchain incorporating characteristics of DAGs.

The DAGchain(R)️ represents over three years of research and development performed by and in conjunction with a wide range of blockchain industry veterans. It provides high levels of scalability, security, consistency, and decentralization to projects that utilize it. Peaq offers this blockchain platform infrastructure to companies seeking to build innovative and advanced blockchain products. Peaq also offers a variety of custom-built blockchain-based products for companies in the automotive, telecommunications, and machine industries. Most recently, peaq has introduced peaq access control, the first permission and access control system to enable cross-system access control management via the blockchain.

Further information on Advanced Blockchain AG, peaq, and its other investments and projects is available on its website, www.advancedblockchain.com.