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$32M Raised by Shivom to Create Genomic Data Pool on Blockchain Technology

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Shivom completed the First round of its crowdfunding campaign and raised $32 million. Shivom also celebrated the decision of Taavi Roivas, a former Estonian Prime Minister to join the company’s advisory board.  

Shivom has a vision is to create the world’s largest genomic data hub which would help in giving healthcare industry participants, state-backed research institutions and biotechnology experts the chance to collaborate and make discoveries in the medical domain. Shivom also provides a blockchain-based marketplace for researchers and medical service providers.  

Shivom’s main ICO begins at May 3rd, 2018 the project is estimated to reach its hard cap of $35 million.

With around 7.6 billion humans in the Earth and every human with a unique genome code. The scientists have been working on deciphering this code for a very long time but with no success. A combination of Genes determines a humans appearance, health, and other characteristics.

Genomic data is in the control by big companies and this monopoly is considered as one of the key obstacles in the research process. These monopolies sell the data to third parties and make a profit they don’t even inform the donors that their data has been transferred and donors don’t have any guarantee that their data is protected from hackers.   

Shivom’s platform is anonymous and secure. Donors would be motivated to share their data with the monetary remuneration which they will receive in the form of OmiX token. It aims to bring this technology to the developing nations and underrepresented population segments.

Shivom’s co-founder and CEO Dr. Axel stated “In the past few weeks have been filled with positive growth for Shivom,” and also added “The first round of funding will allow us to propel Shivom into action, as will our recent partnerships and also the addition of former Estonian Prime Minister Taavi Roivas to our advisory board….we are looking forward to completing our public token sale and also creating additional strong partnerships in the near future.”

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