Polymerium, a Russian brand of auto chemical goods and engine oils, raised $500,000 in its pre-ICO campaign, the company announced last week.
The company is planning to use the money “to construct a big plant,” build the franchise network worldwide and fuel the production of its anti-forgery Blockchain-based protection system ArmPACK.
ArmPACK is presented as the solution “to help companies save billions of dollars and to protect customers against counterfeiting.” In the future, the technology may be used outside the motor oil production industry.
Polymerium claims that the market size for its products exceeds $100 billion, while ArmPACK has a potential to enter a $500 billion market.
Polymerium expects to have over 100 plants around the world by the end of 2022.
In the future, Polymerium says it will accept payments for its products in cryptocurrencies in the countries where such settlements are legal.
Founded in 2015, the company claims its monthly turnover to be $300,000 with a 5-10% growth per month. Currently the manufacturer has one factory located in the Moscow region.
Polymerium says its products are sold in four countries.
The first stage of the company’s upcoming ICO is scheduled to start on December 1. Ten million tokens (PLM) will be released, each one for the cryptocurrency equivalent of $10. The second stage of the ICO is scheduled for next June, after the development of the new plant and of the ArmPACK system are completed.
