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August 6, 2025 – Satsuma Technology PLC (LSE:SATS), a pioneering London-listed firm operating at the intersection of decentralized artificial intelligence and Bitcoin treasury strategy, today announced the successful closure of a heavily oversubscribed capital raise, securing £163.6 million through its second secured convertible loan note. The funding round, which originally targeted £100 million, saw demand outstrip the goal by over 60% by its close on July 28.
The significant investment was led by ParaFi Capital, a leading blockchain-focused investment firm, and saw robust participation from a distinguished group of digital asset and institutional investors. Notable participants include Pantera Capital, Blockchain.com, Kraken, Arrington Capital, and Digital Currency Group (DCG). Additionally, a number of large institutional equity funds based in London, with combined assets under management exceeding £300 billion, also joined the round, underscoring broad market confidence in Satsuma's innovative approach.
In a landmark move for London markets, a substantial portion of the raise, £96.9 million (equivalent to 1,097.29 Bitcoin), was settled directly in cryptocurrency. This option was offered to meet growing investor demand and aligns seamlessly with Satsuma's strategic vision to operate a Bitcoin-native treasury. The Bitcoin proceeds are now held by the company's Singapore-based subsidiary, Satsuma Pte.
Henry K. Elder, CEO of Satsuma Technology PLC, hailed the outcome as a profound validation of the company's vision. "To have our initial target so significantly oversubscribed is a profound vote of confidence, resulting in the largest fundraise for a London company with a Bitcoin treasury by a significant margin," said Elder. "This capital infusion empowers us to accelerate our mission of building the next generation of decentralized AI services powered by our AI Agent Subnet Ecosystems on TAO."
The newly secured funds will be strategically deployed to fuel Satsuma's ambitious growth plans. This includes expanding operations, significantly increasing its team of developers, and enhancing its underlying infrastructure. A portion of the proceeds will be maintained in cash to cover at least three months of working capital, while the balance will be added to the company’s Bitcoin reserves, managed under a prudent cap to limit treasury exposure.
Satsuma Technology specializes in providing subnet infrastructure and developing revenue-generating AI agents within the Bittensor (TAO) ecosystem. Their platform facilitates agent-powered subnet economies, offering solutions like "Lucy," an AI Recruitment Partner that independently screens candidates, manages pipelines, and assists hiring teams 24/7, demonstrating the practical application and revenue potential of their AI agents.
The convertible loan notes will convert into equity at 1p per share, contingent on shareholder approval and the publication of a prospectus. A general meeting will be called shortly to approve the necessary resolutions. The notes are secured by a first-ranking charge over the assets of both Satsuma and its Singapore subsidiary, with a security trustee appointed to represent investors.
In a commitment to enhanced transparency, Satsuma plans to publish unaudited interim financial statements for the period ending August 6, and will introduce monthly updates thereafter. This marks a rare and significant commitment to frequent disclosure for a public company operating in emerging asset classes, further solidifying investor trust.
This successful funding round positions Satsuma Technology at the forefront of the evolving digital asset and decentralized AI landscape, enabling them to further innovate and expand their unique blend of technology and treasury strategy.
About Satsuma Technology PLC:
Satsuma Technology PLC (LSE:SATS) is a London-listed company building at the intersection of decentralized artificial intelligence and Bitcoin treasury strategy. The company provides subnet infrastructure and develops revenue-generating AI agents to power the next generation of decentralized AI services, primarily within the Bittensor (TAO) ecosystem. Satsuma is committed to pioneering agent-powered subnet economies and maintaining a Bitcoin-native treasury.About ParaFi Capital:
ParaFi Capital is an alternative asset management firm focused on blockchain and decentralized finance. The firm invests across the digital asset ecosystem, supporting innovative projects and protocols that are building the future of finance and technology.Compiled by CMO Intern team
