Prenetics Global Raises $48 Million to Expand Bitcoin Treasury
- The oversubscribed round netted the company $48 million.
- The funds will be used to purchase Bitcoin and develop the IM8 brand with David Beckham.
- Investors include Kraken, Exodus, and the GPTX fund.
Digital healthcare company Prenetics Global has raised $48 million to strengthen its Bitcoin treasury management strategy. In addition to expanding its crypto reserves, the funds will be used to promote the IM8 brand, created in collaboration with David Beckham.
According to the press release, companies and funds such as Kraken, Exodus, GPTX, DL Holdings, and American Ventures participated in the funding round. Investors Aryna Sobolenko and Hong Kong businessman Adrian Cheng also provided funding.
Prenetics CEO Danny Yeung stated that the new capital will “accelerate IM8's global expansion and develop disciplined Bitcoin treasury management initiatives.” According to company representatives, if all orders are fully executed, the total amount raised could reach $216 million.
Prenetics announced the launch of a Bitcoin treasury in June 2025 and began a “daily accumulation of 1 BTC” strategy on August 1. As of October 27, the company holds 275 BTC, worth approximately $31 million. After the placement is complete, total liquidity is expected to reach $131 million.
IM8, the Prenetics and Beckham co-brand, reached $100 million in recurring revenue within 11 months of its launch, the company announced. This figure is projected to increase to $200 million by 2026.
Yeung emphasized that the company's goal is to reach $1 billion in annual revenue and $1 billion in Bitcoin within five years.
Despite the success of the round, Prenetics shares on the Nasdaq fell 22% on Monday to $13.08, according to TradingView. The company's shares have risen 148% over the past six months, with its market capitalization remaining at $170.5 million.
As a reminder, we reported that Pave Bank raised $39 million with the participation of Accel and Tether.
Source: cryptonews.net
