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Nodle.io raises $1.5 million to help bring cryptocurrency to app developers

September 17, 2018 / Ken Briodagh

Nodle.io, a crowdsourced IoT network firm, has announced the launch of a new cryptocurrency for monetising IoT connections, applications and data, along with an amount of $1.5 million that it raised in a recent seed funding round led by Blockchange Ventures. Blockhead Capital, Bootstraplabs, Olymp Capital, Mark Pincus with Work Play Ventures and Yeoman's Capital, also participated in the funding round. Nodle is making the remote mining of cryptocurrency efficient and accessible on a smartphone, which consumes less than 1% of a mobile phone’s battery life. Before Nodle’s Citizen Network of connected devices, mining coins on a smartphone would drain the battery, overheat and slow down the CPU. Micha Benoliel, co-founder and CEO at Nodle.io, said: “The Nodle connectivity solution is simple, plug and play, and global. The main issue IoT deployments face is that it is difficult - and expensive - to connect remote devices to the internet.”