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Enterprise Blockchain Provider BlockApps Secures $41M Funding in Fresh Round

UTC by Bhushan Akolkar · 2 min read
Enterprise Blockchain Provider BlockApps Secures $41M Funding in Fresh Round
Photo: Unsplash

BlockApps said that it will use these funds toward team development as well as accelerate its go-to-market strategy. It also plans to expand its partner program.

On Tuesday, April 19, enterprise blockchain provider BlockApps announced a fresh $41 million fundraise led by Liberty City Ventures. Apart from some existing investors, new investor participation included Eidetic Ventures, Morgan Creek Digital, and Givic.

BlockApps has been cashing upon the growing demand for blockchain-based services in the market. It said that it will use these funds toward team development as well as accelerate its go-to-market strategy. Besides, BlockApps also plans to expand its partner program while getting more real assets to STRATO, the company’s industry-leading enterprise blockchain. Speaking of this development, Kieren James-Lubin, CEO of BlockApps said:

“We’re thrilled to welcome these new investors as we grow dramatically in 2022. Our investors, like Liberty City Ventures, have helped build some of the most successful blockchain companies in the world. Their experience will be invaluable as we scale the business by ensuring the success of our current customers, broadening our customer base, deepening our partnerships, and conducting strategic transactions.”

BlockApps’ Enterprise Blockchain Solution

BlockApps is an enterprise blockchain company that builds products and applications on its own blockchain platform STRATO. The company helps in getting real assets on blockchain thereby helping in revolutionizing industries such as energy and agriculture.

Besides, BlockApps has also been leading developments in Web3Commerce for businesses. It helps them increase the value of their assets by bringing more traceability and transparency to their operations. Apart from streamlining supply chains, BlockApps also helps businesses to meet their sustainability goals. Murtaza Akbar, founding partner at Liberty City Ventures said:

“BlockApps’ founding and leadership team is a who’s who of Ethereum pioneers that are delivering true business value to customers. What’s more, they’re solving some of the world’s biggest challenges and causing industries to re-think what’s possible with blockchain technology – especially when it comes to navigating the complexities of today’s sustainability challenges and supply chain issues.”

BlockApps has undertaken some key projects in the last 14 months. Some of the exciting projects are:

  • TraceCarbon: A net-zero blockchain application to manage carbon data, product labeling and corporate reporting.
  • TraceHarvest: A blockchain application that tracks and traces the full lifecycle of food and agricultural products.
  • Seismic Entitlement Platform: A project built along with Blockchain For Energy to bring greater traceability and efficiency to the seismic entitlement process.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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