Synota Raised $3MM in Seed Financing
Synota is a company with a critical mission. Founded in 2022, it is a pioneer in the use of the Bitcoin protocol and the Lightning Network to transform energy finance and promote global energy equity and access.
Synota raised $3 million in seed financing, which it will use to commercialize the company’s revolutionary settlement platform for energy generators, distributors, and consumers worldwide.
With a strong team at the forefront that has deep energy industry experience, Synota will address the significant disconnect between when and how energy flows compared to when and how the energy payments are settled. Today, the disconnect between the physical and financial sides of an energy transaction results in cash lag, credit risk, and increased energy costs. Synota’s platform addresses these issues with its dynamic transaction and instant settlement capabilities.
“Synota’s team is building a platform that delivers incredible value to many stakeholders in the energy industry. We think Synota will have a strong positive impact, and we are pleased to be an investor supporting its mission” said Ryan Helon, EVP Investment Funds for Rev1 Ventures.
To learn more about Synota’s mission and exciting progress, read the full press release here.