Copy link
Increase text size
Decrease text size
Link copied

Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions

Thu, 22 Aug 2019, 10:41 am UTC

South Korean blockchain startup Blocko has announced that it has raised 9 billion won (or approximately $7.4 million) in a Series B+ funding round.

The latest round saw participation from major domestic financial institutions including LB Investment, Shinhan Bank, KEB Hana Bank, and Dadam Investment. It follows last year’s $8.9 million Series B round which drew support from Samsung Venture Investment, POSCO, SparkLabs Ventures, and others.

Founded in 2014, Blocko is an enterprise blockchain platform provider and has successfully established blockchain-based services with a number of organizations including the Korea Exchange, Credit Suisse, Hyundai Motors, Lotte Card and many more.

The company said that it is also working with a number of national institutions such as the Bank of Korea and the Korea Electronics and Telecommunications Research Institute to expand the blockchain infrastructure.

"We will also showcase various blockchain-based solutions that can be utilized in the smart grid field, where it was difficult to implement effective business models with existing information (IT) infrastructure through collaboration with various corporate customers and institutions," said Blockco CEO, Kim Won-beom, as quoted by The Block.

Local news outlet edaily reported that Blocko recently launched Aergo Enterprise, which is already being used by over 10 companies. AERGO allows businesses to build innovative applications and services by sharing data on a trustless and serverless IT ecosystem.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,612.36 (-2.57%)
  • Ethereum (ETH) $262.14 (-3.11%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $371.49 (-6.15%)
  • Bitcoin SV (BSV) $275.18 (-5.20%)
  • Bitcoin (BTC) $9,612.36 (-2.57%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.