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Cobalt Advises on ICO of Robot Interviewing Company

Cobalt Advises on ICO of Robot Interviewing Company

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Cobalt is advising on the initial coin offering of Robot Vera.

According to Cobalt, "Robot Vera specializes in mass hiring, and does all the work ten or more times faster than a human recruiter. Robot Vera is able to recognize the candidate's emotions in video interviews and also conduct conversations in virtual reality. It is also learning to lead a 'live conversation' and answer the counter-questions of applicants about the vacancy and the employer. Over the last 1.5 years, the company developing Robot Vera has raised investments amounting to more than USD 1.1 million from the Internet Initiatives Development Fund (IIDF), one of the most active venture capital funds in Europe. The company is mainly active in Russia and decided to organize an ICO to raise up to USD 10 million for global expansion."

Cobalt reports that "ICO (initial coin offering, also referred to as token sale) has become increasingly popular type of crowdfunding, the estimated total amount raised during 2017 already being well in excess of USD 1 billion. ICO is arranged through a blockchain platform using smart contract functionality, [and] cryptographic tokens can be acquired for crypto or fiat currency and later sold on various crypto exchanges."

The Cobalt team was led by Partner Kristel Raidla-Talur and included Associates Christine Magi and Mattias Tammeaid.

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