TEL AVIV, March 26 (Reuters) - Tel Aviv-based Endor said on Monday it raised $45 million in a token pre-sale for its blockchain-based predictive analytics technology.
The company said participation requests pushed demand to $320 million, well above the $45 million cap it set, prompting it to limit most contributions. Hundreds of backers participated with 45 percent coming from Asia and 33 percent from Europe.
Endor’s platform allows users to key in questions and get predictions as answers. Its tokens can be spent by individuals and data owners to access predictions. They will also be used to reward developers who contribute to the platform’s enhancements.
Endor will use the funds to work on the development and launch of publicly accessible predictions services.
It was founded in 2014 as an MIT spin-off that used mathematical and scientific tools to study human-driven events for business applications. (Reporting by Tova Cohen)