Purvi Capital, Chicago Based VC Fund Purchases over 60 Million Tokens in Enkidu’s Private Sale

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Enkidu.io, a blockchain based startup that allows people all over the world to team up and run programmatic companies, is proud to announce that our Private Sale has smashed ceilings on fundraising goals. Purvi Capital, a Chicago based VC Fund, has purchased over 60 Million Enkidu Tokens exceeding our Private Sale Softcap. Having always known there would be demand for a product like Enkidu, we never imagined we would get so much attention, validation and investment from public and industry veterans over such a short period of time. We would like to thank Purvi Capital for their participation in our Private Presale and welcome them in our journey.

“We’ve had a great relationship with VCs in our roles at Enkidu’s parent company, Avalon Labs, and are excited that an idea like ours that makes real use of the blockchain and smart contracts is now seeing validation.” – Varun Mayya, CEO, Enkidu

Enkidu ICO Accomplishments to date:

  1. Raised over 1311 ETH in the Public Presale
  2. Over 400,000 members have presigned on the platform due to our partnership with Truelancer, Asia’s Largest Freelancing Platform

Purvi Capital, LLC operates as a venture capital firm based out of Chicago. They strive to align themselves with long-term interests of mentee firms with high-impact and high-return partnerships. They selectively engage in providing hands-on and strategic consulting services in the areas of Evolutionary Computation and Virtual Intelligence to tech-centric and data-centric companies to help them stand out from the crowd by using these powerful technologies. They have seen many successful exits since their entry in the VC space. Tala, AdPushup, DeepDyve, One Degree Solar, Jobspire and many successful startups have been backed by them. Their portfolio firms have seen successful exits, backing by Fortune 500 companies and VC giants like Sequoia Capital and Mayfield India. The whitelist for the public sale is now open!

“Setting up new organizations is complex, time-consuming and challenging to get right cost-effectively, especially for early teams across multiple geographies. Yet, it’s a necessary evil that must be tackled says Ravi Srivastava, Purvi Capital

Blockchain technology makes it possible to develop collaboration, governance and profit-sharing solutions that are orders of magnitude more efficient. The Avalon team has the best blend of vision and execution experience to build the Enkidu suite of products, which is reflecting in the broader professional team they’ve assembled and the rapid alpha release.

We’ve worked with Shashank Udupa and Varun Mayya very closely for many years now, and when they shared their roadmap to solve this universal problem with programmatic corporations, it was a no-brainer to support them. We’re very excited on what the future of teams will look like within a few short years and are thrilled to be on the ride there”, Ravi Srivastava, Purvi Capital

Enkidu by Avalon Labs is a platform that allows businesses, professionals, and hobbyists from across the globe to team up on online projects. All of this happens via a programmatic company structure that functions similar to that of an LLC. All the functions that can take place in an LLC – adding a new partner, adding a new investor, dividend distribution, vesting periods and share classes are all handled via smart contracts. All this, without registering a company or going through the legal processes of having cross-border teams.

The payments received for these projects are automatically distributed to the teammates’ crypto-wallets based on predefined terms agreed upon by all the parties involved. Options like smart vesting, domain locking, and others render Enkidu a chassis for a usable version of the DAO (Decentralized Autonomous Organization) that actually has real world value and can be used immediately.

“Our platform aims to penetrate the gig economy market on a global scale that can facilitate micro-collaborations at mass. Purvi Capital brings in an abundance of experience that will help Enkidu position itself as a global platform” – Shashank Udupa, COO, Enkidu

Setting up an Enkidu project is free. The company makes money by taking a 0.5% fee on every Transaction. They’ve recently partnered with Asia’s largest freelancing platform, Truelancer, who will backfill 400,000 users from their database right into Enkidu’s platform. Imagine making 0.5% of every transaction on all the Delaware C-Corps out there. That’s the trillion dollar market Enkidu hopes to disrupt. Enkidu currently has their ICO dates set at June 15th and have opened their whitelist recently.