Last Updated on Tuesday, 13 August, 2019 at 11:01 am by Christian Keszthelyi
Cryotherapy solution provider Cryotech Nordic (CTN) announced to team up with investment platform TokenMarket in launching a tokenised equity fundraiser, according to a press statement by Cryotech. TokenMarket will carry out a tokenised equity offering of CTN shares by digitising its assets and placing them in the blockchain.
CTN will now seek to raise funds to scale the business globally by investing in production technology, marketing and distribution. This will allow the company to further provide consumers with global access to affordable, environmentally-friendly and advanced cryotherapy, according to the press statement.
“Having successfully created our own technology and made ourselves a forerunner in this rapidly expanding space, Cryotech Nordic now wants to offer investors access to our growing business”, says Dr Timo Kylmälä, Cryotech Nordic Medical Director.
“By carrying out an equity raise on TokenMarket’s platform, we want to give all types of investors an opportunity to invest in an industry that hasn’t been accessible until now,” adds Jean-Patrick Martins, Member of the board and CMO.
TokenMarket says that by having been accepted to the Financial Conduct Authority’s (FCA) Regulatory Sandbox in July 2018, CTN’s equity raise will be carried out in a compliant manner, executed in the blockchain.
“Cryotherapy is very exciting and currently growing at a rapid rate amongst athletes, professional training centres, and the healthcare institutions. However, this type of healthcare investment and treatment is currently unavailable for the average person to fund and purchase in the retail market,” says Ransu Salovaara, CEO of TokenMarket.
“Working alongside Cryotech Nordic, we are ensuring that advocates of cryotherapy and interested investors are able to come in at an early stage; democratising an investment opportunity they otherwise would not have had through a traditional route to market,” Mr Salovaara adds.
CTN says it wants to make cryotherapy chambers and localised cryotherapy accessible to everyone. Its technology aims to ditch using “difficultly sourced nitrogen gasses and expensive liquid nitrogen chambers” by providing a “cost-efficient electricity powered solution to make its product accessible to the retail market.”
The cryotherapy phenomenon has influenced a current $2.5bn market which is set to reach a global market value of $5.6bn by 2024, CTN expects.
CTN’s so-called “Cryo Cabin” circulates “super-cooled” vaporised gas, which the company claims heals and treats ailments such as tissue damage, inflammation, pain and variety of skin disorders.
“This particular treatment has received praise amongst athletes such as LeBron James, Conor McGregor, Max Verstappen, Novak Djokovic and many more. In addition to top athletes CTN Cryo Cabins are used by NHL and NFL teams in the United States,” the press statement concludes.
Cryotech Nordic is a high tech manufacturer that focuses on cryotherapy systems and solutions. CTN focuses on non-surgical health and wellness solutions for both professionals and private users
TokenMarket is a Europe-based token offering and a global investment platform allowing users to research, invest and trade in innovative startups and growth companies. With offices in London, Gibraltar, Helsinki, Malta and Singapore, TokenMarket has assisted over 30 blockchain companies in raising over £240m since 2017, issuing digital assets to over 250,000 unique investors.
