Spondoolies

Company Overview

Snapshot

Founded in January 2013 by Assaf Gilboa, Kobi Levin, and Harel Shvarzberg, Spondoolies operated with 1–10 employees. The company raised a total of $13.5 million across four funding rounds from six investors. In May 2015, the company secured funding from Bitcoin Shop Inc. (BTCS).

Business overview

Spondoolies was a cryptocurrency mining gear company focused on developing powerful solutions for cryptocurrency mining. The company aimed to enable both consumers and businesses to compete effectively in the cryptocurrency mining landscape, with a core product like the SPx36. Operating within the Fintech & Insurtech sector, Spondoolies served global markets, primarily targeting consumers and enterprises.

Strategic signal

Spondoolies ceased operations in August 2024, indicating a significant shift in its business trajectory. This event signals to investors and innovation teams that the company is no longer active in the cryptocurrency mining hardware market, reflecting potential challenges or market changes within the sector.

Company Intelligence Q&A

What was Spondoolies' primary focus?

Spondoolies focused on developing cryptocurrency mining gear to enable individuals and companies to participate in cryptocurrency mining.

When was Spondoolies founded and by whom?

Spondoolies was founded in January 2013 by Assaf Gilboa, Kobi Levin, and Harel Shvarzberg.

What was the company's status as of August 2024?

As of August 2024, Spondoolies ceased to operate and is considered non-active.

Did Spondoolies receive any funding?

Spondoolies raised a total of $13.5 million across four funding rounds. In May 2015, the company secured funding from Bitcoin Shop Inc. (BTCS).

Which investors participated in the October 2014 funding round?

In October 2014, Spondoolies received funding from Genesis Partners and BRM Group.