- July 23, 2021
- Posted by: Swiss Growth Forum
- Categories: Events, Forum, News, Roadshow
Carnomaly.io – Digitalising Car Ownership in up to US$10m funding round.
Swiss Growth Forum is pleased to announce that it is initiating research coverage of innovative automotive finance and trading company Carnomaly whose CARR token is a publicly traded cryptoasset. Working with Chris Wickham a senior independent investment analyst who consults into Swiss Growth Forum’s Evergreen Research offering, Andreea Porcelli CEO reiterates her excitement that US based automobile company has engaged her company to promote the investment case both for Carnomaly and CARR. “It’s a great opportunity for investors to participate in an innovative and potentially highly profitable journey at an early stage and attractive valuation,” she said.
Carnomaly. is well poised to deliver some of the most dramatic changes that the automotive finance industry has ever experienced. A combination of blockchain and digital solutions currently under development – including Carnomaly itself, CarrChain and CaffDefi – could significantly disrupt the present business models for car search and finance in both the new and used markets by solving a number of problems currently experienced by consumers.
The Carnomaly investment case focuses on the company’s ability to use digital technology – including blockchain and its own cryptocurrency – to disrupt and democratise the purchase, sale and financing of automobiles globally. The company argues that a number of practices associated with automobile trading are both inconvenient and inefficient. Carnomaly’s combination of automobile and technological know-how will radically improve the entire auto trading ecosystem.
Proof of concept focuses on the identification of structural weaknesses within the currently accepted practices associated with changes of car ownership. Carnomaly offers “end-to-end” solutions which are housed by the key components of the company’s digital ecosystem – Carnomaly.io, CarrChain and CarrDefi – all of which should simplify motoring for end-users.
Both the US and global automobile markets are sizable. Moreover, the prospect of “levelling up” between mature and developing economies should lead to more widespread automobile ownership as well as demand for simpler, more efficient solutions when cars are changing hands. The US typically purchases around 17m new cars annually compared with 15m in Western Europe and 83m globally – i.e. around 10% of the world’s population purchases 40% of its new cars.
Despite being in development stage, there is ample scope for due diligence and stress testing on the Carnomaly model. In particular, Carnomaly itself has done substantial work on identifying the inefficiencies which the company looks to remove and tailoring its applications of blockchain and digital technology. For example, the logic of digitising Vehicle Identification Numbers (VINS) to create Digital Vehicle Identification Numbers is clear and robust.
Carnomaly is led by auto industry specialists with critical experience at the customer service end of the automotive industry. It is a car company run by car people who have substantial knowledge of the industry’s pitfalls and the benefits of appropriate blockchain and digital solutions.
Carnomaly seeks to raise up to US$10m from a pre-listing funding round which will be based on a US$90m pre-money valuation. While still in development stage and pre-revenue, investors should be in a position to use the revenue targets published in this report to evaluate the financial benefits of participating in this funding round. Moreover, the company’s ERC 20 CARR crypto token is listed on www.coinmarketcap.com where its market value can be tracked.
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