Blockchain voting startup Voatz raises $7M in Series A funding led by Medici Ventures, Techstars
Fri, 07 Jun 2019, 05:01 am UTC
Blockchain-based mobile election voting platform Voatz has raised $7 million in a Series A funding round, led by Medici Ventures and Techstars.
Voatz, which allows citizens to participate in official elections and similar events via mobile devices like smartphones, said the proceeds will be allocated on improving the accessibility and usability of its platform. It also plans to build more pilot programs in the United States and overseas.
We are delighted to announce the closing of our Series A funding led by @medici_ventures and @techstars with participation from @UrbanInnoFund, @OakhouseVC and other investors. We are grateful for the continued support of our existing & new investors - https://t.co/Ka87DeXbt5 ????— Voatz (@Voatz) June 6, 2019
“We are committed to the steady progress of mobile voting backed by blockchain technology to improve our election infrastructure and make remote voting more accessible and safer,” Nimit Sawhney, Voatz Co-Founder and CEO, said.
According to its press release, the platform uses biometrics, encryption, and blockchain technology to enhance the convenience, security, and auditability of the election system. The company said it has previously worked with state political parties, universities, labor unions, church groups, and non-profits to administer elections using its platform.
Voatz has successfully completed pilot programs in Denver, Colorado, and West Virginia in which registered military personnel and overseas US citizens were able to cast their ballots during the 2019 municipal and 2018 midterm elections, respectively. The pilot in the 24 counties of West Virginia marked the first time a blockchain-based mobile voting platform was used in a US Federal Election.
“Voting is a great application of blockchain technology. What Voatz is doing to allow more registered voters to participate remotely in elections in a safe and secure way is important,” Jonathan Johnson, Medici Ventures President, said. “It bodes well for more widespread adoption of the Voatz application. That’s one reason we’ve increased our investment in the company by leading this Series A round.”
Venture capital firms Urban Innovation Fund and Oakhouse Partners also participated in the investment round.
Earlier this year, the South Australian government has also tapped blockchain startup Horizon State to carry out a public election using blockchain technology the inaugural Minister’s Recreational Fishing Advisory Council.
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