Bitcoin Treasury Firm Satsuma Raises $218M in Oversubscribed Round
London-based Satsuma Technology PLC has successfully raised £163.6 million ($217.65 million) in an oversubscribed second round of secured convertible loan notes, significantly exceeding its minimum £100 million target.
London’s Satsuma Raises Funds for AI and Bitcoin Plans
The publicly listed company, Satsuma (LSE: SATS), specializing in decentralized artificial intelligence (AI) and bitcoin-native treasury management, confirmed the fundraising closed on July 28, 2025. The gross proceeds represent a 63.66% oversubscription beyond the initial goal announced on June 24.
London’s Satsuma Raises Funds for AI and Bitcoin Plans
The publicly listed company, Satsuma (LSE: SATS), specializing in decentralized artificial intelligence (AI) and bitcoin-native treasury management, confirmed the fundraising closed on July 28, 2025. The gross proceeds represent a 63.66% oversubscription beyond the initial goal announced on June 24.
Investor backing came from specialist global digital asset funds and exchanges, alongside large institutional equity funds. Several prominent London-based institutional equity funds, collectively managing over £300 billion in assets, also participated in the round.
Notably, over half of the funds raised, equivalent to approximately 1,097 bitcoin, were settled directly in the cryptocurrency. The majority of Satsuma’s crypto holdings are managed by its Singapore subsidiary. Key investors included ParaFi Capital, Pantera Capital, Blockchain.com, Kraken, Arrington Capital, and Digital Currency Group.
Formerly known as TAO Alpha PLC, Satsuma rebranded in July 2025. The company develops AI-powered subnet ecosystems and participates in the Bittensor (TAO) decentralized AI marketplace. The new capital will fund team expansion, infrastructure enhancement, and increasing bitcoin treasury holdings, managed at prudent risk levels.
CEO Henry K. Elder described the raise as a “landmark validation” of the company’s strategy to combine bitcoin-native treasuries with decentralized AI, calling it the largest fundraise for a London company with a bitcoin treasury.
