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15.09.2021 – 09:15

CAV Solution

CAV Solution sold World's first NFT Token Share

Tallinn, Estonia (ots/PRNewswire)

Tehnopol Startup Incubators sold the world's first NFT stock, backed by a percentage of the business

CAV Solution Ltd and Curitas Ventures AB signed a first ever Contract Note where object of transfer is NFT Token No. 00001 representing a nondisclosed amount of shares of in the start-up CAV Solution Ltd.

The investment amount and shares of the company being sold are kept confidential, but both parties are very excited about the approach and trust they have in partnership. The NFT token was auctioned out on the OpenSea platform and got a lot of interest and attention.

The buyer was the Swedish VC, Curitas Ventures, led by Gerda Larsson. "We love seeing innovative companies thinking outside the box when it comes to fundraising and product development. CAV Solutions shows innovation in their way of thinking, the way they create awareness around the product and the approach in their financing round. We look forward to see what lies ahead," says Gerda Larsson.

CAV Solution specialises in age verification service for customers. Startup has developed an age verification module for vending machines. The module makes operators more competitive with traditional retailers which have the ability for an on-site clerk to check consumers' age.

"What's most important - the solution does not allow sales of age restricted products to minors! It is a huge problem worldwide that children have a chance to purchase health harming products," says CAV Solutions' CCO Juri Tarassenkov.

Possibilities of the module are not limited only to age verification, it can be used as identity verification device for KYC compliance on the spot.

Verification is simple and consists of two steps - the customer looks into the camera and puts the document in to the document tray. After which returns a result that informs the verification was successful or not.

CAV Solution is one of the first start-ups that participated in Tehnopol Startup Incubator's growth programme in Narva. The practical programme prepares early-stage technology start-ups to become investment ready and connects them with potential investors.

"The incubator played a crucial role in mentoring shareholders and supporting with advice and experience. The programme lead, Olga Kurdovskaja, has been very supportive," says BDO Dmitri Pimenov.

www.cav.ee