Samsung-Backed Blockchain Startup Scores $30 Million From Sequoia China, Others

November 20, 2018

Things are looking good for one of Hong Kong’s blockchain startups, according to DealStreetAsia:

 

Hong Kong-based blockchain startup AERGO has raised $30 million in venture funding from investors including Sequoia Capital China, GBIC (Global Blockchain Innovative Capital) and Neo Global Capital.

 

Other participating investors included Dekrypt Capital, FBG Capital, Arrington XRP Capital, JRR Crypto, Rockaway Capital and Block Crafters Capital.

 

Aergo is an end-to-end, open source-based platform which was supported and developed by Samsung Ventures-funded Blocko. Per its website, Aergo allows businesses to “build innovative applications and services by sharing data on a trustless and distributed IT ecosystem,” and according to DealStreetAsia, Ferrari, HSBC, and Sony are just some of its clients.

 

The company aims to develop a new, developer-friendly blockchain protocol with cutting edge dApp orchestration and deployment framework. Proceeds from the round will go into the platform’s development and new R&D resources, among others.

 

Here’s what Global Blockchain Innovative Capital partner Sinhae Lee had to say about the firm:

 

“Many of the newer blockchain solutions are still not suited for enterprises and existing businesses. AERGO has the greatest potential to bring blockchain technology closer to the real world as it is leveraging Blocko’s core technology which has dozens of production-level projects with millions of end-users.”

 

Photo: uberof202 ff

 

 

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