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BlockApps, an enterprise blockchain platform provider, has secured an undisclosed amount in a Series A funding round.
The round was spearheaded by Fitz Gate Ventures and joined by Elliptic Curve Ventures, Bloccelerate, Fenbushi Capital, Galaxy Digital Ventures, and follow-on investment from ConsenSys.
“We are extremely excited to be working with this exceptional group of investors. We have a healthy mix of traditional venture capital players along with some of the best blockchain focused firms participating. Leveraging this expertise will help us achieve our vision for secure, scalable blockchain business networks and accelerate our mission of restoring trust, reliability and efficiency to online transactions,” Kieren James Lubin, BlockApps CEO, said.
As per a press release, the new capital injection is intended to accelerate growth in the healthcare, energy, agriculture, and travel industries.
"BlockApps’ vision and STRATO product align perfectly with our investment thesis; disintermediation to create lower costs, greater security, and more robust transaction systems. We are encouraged by the scalability and robustness of their platform and view it as a clear long-term winner in the enterprise blockchain space,” Matt Stack, Elliptic Curve Ventures Managing Director, said.
Last month, BlockApps teamed up with Indian IT giant Tech Mahindra to accelerate the adoption of blockchain business networks. The partnership will see Tech Mahindra assisting over 935 corporate global customers to render seamless integration with the BlockApps STRATO, a first Blockchain-as-a-Service (BaaS) platform that enables building and running blockchain business networks across all verticals.
Built on Ethereum protocols, the STRATO also offers core enterprise features including flexible API integration capabilities, high transaction performance, and the ability to query and report on blockchain data using traditional business tools.
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