Eastman Kodak Co. is looking for more cash to launch its long-awaited digital token, Bloomberg News reported. Wenn Digital Inc., the company licensing Kodak’s name, is seeking $10 million to $40 million from accredited investors, starting May 21. The initial coin offering for the KodakOne coin, which aims to help photographers get paid for their works, has raised $3.25 million from three institutional investors so far. The firm expects to take in another $6.75 million in a second round of funding that should close May 18. “An additional $10 million is what our business plan requirement is,” Cam Chell, co-founder of KodakOne, said in a phone interview. “We think ideally a total of an additional $40 million is the number we’d like to target." The last leg of the offering, first announced in January, will close after about a month, he said.
