POLKALOKR
The future payment platform with a mission to help bridge the gap between crypto and the outside world.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
N/A | Seed | ||
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 47 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Lokr, founded in 2020 by Imran Ashfaq and Anis Ahmed Chohan, operates as a multi-chain token locking and escrow platform within the Decentralized Finance (DeFi) sector. The founders, who had conceived the idea in 2018, transitioned from consulting on major technical projects to dedicate their full efforts to Lokr in 2020. Imran Ashfaq serves as the CEO, bringing experience as a trader, investor, and technical consultant, while Anis Ahmed Chohan, the CTO, focuses on product delivery leveraging a MACH architecture (Microservices, API-first, Cloud-native, Headless). The company initiated as Polkalokr, signaling its initial intention to build on the Polkadot network, and later rebranded to Lokr in March 2022 to reflect its broader multi-chain strategy.
The firm's business is centered on providing tools that aim to increase trust and transparency in token ecosystems. Lokr serves cryptocurrency projects and their communities by offering decentralized solutions for managing token distributions, vesting schedules, and liquidity pool locking. Its platform operates on a decentralized framework using smart contracts to automate and enforce token release schedules without intermediaries, thereby mitigating risks such as rug pulls. The core product suite includes Vault for token locking, Swapr, Mintr for creating bespoke tokens, and Bridgr, a decentralized bridge-as-a-service for cross-chain asset transfers. Initially launched on ERC-20, the platform is designed to be multi-chain, with a governance model allowing the community to vote on which new chains to prioritize.
Lokr's revenue model is based on fees for utilizing its platform services, paid with its native LKR token. The company has secured funding through an Initial Coin Offering (ICO), raising a total of $1.1 million. This included a private sale that raised $950,000 and an IDO on Polkastarter which raised an additional $150,000 in April 2021. Key institutional investors include Moonrock Capital, Cryptomeria Capital, and Morningstar Ventures.
Keywords: Lokr, Polkalokr, LKR, Imran Ashfaq, Anis Ahmed Chohan, DeFi, token locking, token escrow, multi-chain, decentralized finance, crypto services, smart contracts, token vesting, liquidity locking, Bridgr, Mintr, Vault, tokenomics, blockchain governance, cross-chain bridge, ERC-20, Polkadot, cryptocurrency tools, decentralized applications, fintech