It’s time - be one of the first 100 who gets exclusive early access to SOMA

Finnish government, private investors infuse SOMA with seed capital

Funding round of €1.1M closed successfully in April

SOMA blockchain Finland funding

We’re elated that Business Finland, an arm of the Finnish Government, has again seen fit to fund SOMA!

Previously, we received a “Round 1” funding of €50K, which Business Finland gives as an initial “test” for qualifying startups to prove viability by meeting defined benchmarks.

We surpassed all the goals associated with that round, so they recently approved us for the much larger second round. Together with some funds from private investors, our latest seed round amounts to over a million euros. That’s enough to get us into Spring 2020, when we raise our Series A round. Read the full press release here.

SOMA goes live in June 2019 with our social marketplace for watches, and we have a large representation of microbrands and independent watchmakers participating!

In related news, SOMA has been accepted into the TINC accelerator program in Silicon Valley. It kicks off later this week!

The raison d'être of SOMA's horology marketplace

  • Watch lovers (brands and buyers and collectors, etc) love to share and show off their watches
  • They also need a place to buy and sell and discover watches
  • Existing ecommerce sites lack a ‘show-off’ feature
  • Existing social platforms lack an easy transaction feature (ecommerce). Those that have it (like FB marketplace) don’t have it well-integrated into the social offering, but rather tacked-on like an afterthought
  • SOMA has put a lot of design effort into creating a platform beautifully balanced between the social (sharing and showing off) and the transactional (buying and selling)
  • SOMA uses blockchain to create a permanent digital record of each watch. This record is called the interactive item card, or IIC
  • The IIC can be shared, liked, commented on, bought, sold, and even resold
  • SOMA will build ‘proofs’ into the IIC so that watch owners down the chain of ownership can validate that their watch is genuine
  • Merchants (watch brands) pay nothing to participate

SOMA’s Cohort 1 consists of 100 lucky watch fanatics who will have free run of the markeplace after our launch. They will test the functionality and have access to deals beyond their wildest dreams. Details announced first in the SOMA Facebook group. Be there…or be behind.

About Cohort 1

SOMA Facebook group

 

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