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Uber-Like Service for Cargo Transportation, IMMLA to Raise $38 Million Through Crowdsale

17 September, 2017

Source: EIN News

 
ST. PETERSBURG, Russia, Sept. 15, 2017 /PRNewswire/ -- The blockchain-based, Uber-like platform for cargo delivery, IMMLA has announced the launch of its main token sale. The crowdsale follows the recently concluded Pre-ICO that raised over $500,000 from its early participants. The main token sale is set to go live on Sept. 15, 2017, and during the month-long campaign, it is expected to raise about $38 million.

The total size of logistics market is estimated to be around $8.1 trillion, of which logistics outsourcing makes up for almost $760 billion. IMMLA revolutionizes the industry be introducing a decentralized service that uses smart contracts on blockchain to achieve scalability. The IMMLA solution puts the power of making the logistics decision back into the hands of the freight owner. It does so by enabling owners to choose the best solution out of thousands of multi-modal transportation options, to ensure the best price, time and quality of service.

As the company works towards positioning itself as the Uber for freight logistics, the platform can potentially earn as much as 1% of the cost of serviced transportation, making it a revolutionary low-cost yet high quality and safe forwarding service. The IMMLA team is backed by an expert team of the world's best in logistics and IT. The platform's mission is to create a safe and convenient interaction between the cargo owner and the carrier at all stages of the cargo transportation process, powered by an international multimodal logistics application based on the Ethereum blockchain. This new technology will dramatically reduce the number of the personnel involved in logistics planning, information barriers, and legal costs.

IMMLA has set out on a month-long crowdsale, during which participants will have a chance to buy 434,477,177 IML tokens (for 122,888 ETH or $ 32,8 mln as of 13 September 2017). The token sale will happen over four lots, with the token price becoming expensive by about 2.5% across each lot. The first, second, third and fourth lots are assigned 170053520 IML, 103725856 IML, 100319718 IML and 60378083 IML tokens respectively. One ETH can buy 3640 IML in the first lot, 3549 IML in second, 3458 in third and 3367 IML in the fourth lot.

Safe ICO

There are two possible scenarios to the crowdfunding and issuance of IML tokens:

1) If the ICO succeeds, the IMMLA founders will receive 10% of the tokens that will be in turn frozen for five months. During this period IMMLA will start servicing the first commercial transportation in the auto-truck services market;

2) In case less than 18,000,000 IML tokens are sold, the raised ETH will automatically return to the investors.

Use of funds

The funds raised during the ICO will be directed towards the launch of a road and sea freight module in 2018. There will be a phased development and introduction of new modules into the service every nine months. "Air" and "Customs" in 2019, "Forwarding" and "Warehouse" in 2020, and "Railway" in 2021.

Step-by-step IMMLA team will create a multimodal blockchain forwarder based on their proprietary Logismart solution and the Ethereum blockchain. The team is also prepared to launch these modules earlier than stated if the budget and knowledge pool expands.

Each module comprises of five components. They are:

Web service and interface
Delivery analysis service (DAS)
Document management service (DMS)
Delivery tracking service (DTS)
Blockchain
Focus on the Asian logistics market
Having observed the progress in the development of blockchain technologies logistics in the Asian Region, IMMLA has rescheduled the service launch in China and its neighboring countries two years earlier from 2021 to 2019. Moreover, the working strategy has changed towards the one with maximum localization and adaptation to the local market as well as aggressive marketing.

The working strategies in other regions remain unchanged. In 2019 IMMLA will begin to operate in the Eastern European market, in 2020 – in Western Europe, in 2021-2022 – in Africa and three regions of America. Although being very promising for IMMLA, the American continent is extremely competitive. On the other hand, the Asian region is more open. Therefore, the development in the region of Asia will allow a more rapid subsequent expansion into the markets of North and South America and Africa.

The updated IMMLA strategy has been presented in Whitepaper ver. 2.0 published on 13 Sept. Furthermore, on 10 Sept., the pre-alpha version of IMMLA was launched.

Learn more about IMMLA at – https://immla.io/


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