The technology company Satsuma in London successfully raised £163.6 million ($217.65 million) in the second round of secured convertible loan notes, far exceeding the minimum target of £100 million.
Satsuma in London Raises Capital for AI and Bitcoin Plan
The publicly listed company, Satsuma (LSE: SATS), specializing in decentralized artificial intelligence (AI) and bitcoin treasury management, has confirmed that its fundraising closed on July 28, 2025. The total amount raised was 63.66% above the initial target announced on June 24.
Support from investors came from specialized global digital asset funds and exchanges, along with large institutional equity funds. Some prominent institutional equity funds in London, collectively managing over £300 billion in assets, also participated in this round.
Notably, more than half of the raised funds, equivalent to approximately 1,097 bitcoins, were settled directly in cryptocurrency. The majority of Satsuma's cryptocurrency assets are managed by the company's Singapore branch. Major investors include ParaFi Capital, Pantera Capital, Blockchain.com, Kraken, Arrington Capital, and Digital Currency Group.
Previously known as TAO Alpha PLC, Satsuma rebranded in July 2025. The company develops subnet ecosystems using AI and participates in the decentralized AI market Bittensor (TAO). The new capital will be used to expand the team, upgrade infrastructure, and enhance bitcoin treasury holdings, managed at a prudent risk level.
CEO Henry K. Elder described this fundraising as a 'remarkable affirmation' of the company's strategy to combine bitcoin treasury management with decentralized AI, calling it the largest fundraising for a London company with bitcoin treasury.
