Web 3.0 company to raise Rs.16,6000cr
As part of global expansion, String Metaverse Ltd (BSE: META) is investing Rs.415 crore on high-performance Cloud Data Centres for hosting Blockchain Validation Nodes across key Layer 1 and Layer 2 networks including Ethereum, Solana, Sonic, Avalanche, Bitcoin, and Base.
The infrastructure will support the rapidly growing Real-World Asset (RWA) tokenization market, projected to reach US$30 trillion (approx. Rs.2,490 lakh crore) by 2030.
To fuel its global roadmap, String Metaverse plans to raise Rs.16,600 crore over the next three years through structured instruments including Convertible Notes, ADRs/GDRs, and Foreign Currency Convertible Bonds (FCCBs). These funds will be deployed into high-growth digital asset portfolios and infrastructure https://www.bseindia.com/.
“Our 169.40% revenue growth reflects the explosive demand for Web 3.0 infrastructure,” String Metaverse Ltd CEO Santosh Althuru said on 16 May. “With our Blockchain Validation Nodes and Digital Asset Treasury, we’re building a future where String Metaverse powers the decentralized digital economy https://www.nseindia.com/.”
India’s first publicly listed Web 3.0 company has also reported exceptional financial results for FY 2024–25, a revenue of Rs.407.36 crore, a 169.40% increase over Rs.151.21 crore in the previous year.
Net profit for the year surged by 225.79% to Rs.35.25 crore compared to Rs.10.82 crore last year. Fiinews.com
