Funding totaling $41 million was raised by BlockApps strato 41m liberty ventures, a New York-based provider of an enterprise blockchain.
New investors Morgan Creek Digital, Eidetic Ventures, Givic, ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX also participated in the round, which was led by Liberty City Ventures. Each of Morgan Creek Digital and Liberty City Ventures will choose a member for the BlockApps Board of Directors.
The business plans to utilise the money to:
In order to promote innovation through its permissioned blockchain ecosystem of enterprises, which includes Fortune 500 corporations as well as start-ups, STRATO will need to expedite its go-to-market strategy, extend its partner programme, and bring in more actual assets.
BlockApps is a business blockchain firm run by CEO Kieren James-Lubin that creates industry applications and its own blockchain platform (STRATO). For clients using Web3Commerce for B2B, these solutions enable traceability across enterprise value chains and offer efficient ownership and transaction methods.
Customers include Fortune 500 firms like Bayer Crop Science, the largest seed company in the world, Blockchain for Oil, an alliance of the biggest energy firms in the world like Repsol, Chevron, ExxonMobil, Schlumberger, and others, as well as the US government. TraceHarvest (agribusiness traceability), TraceCarbon (sustainability tracking), and the Enterprise Ethereum Alliance (the largest open standards blockchain organisation in the world) are just a few of the industry efforts that BlockApps has developed.