Applied Blockchain Raises £2 Million in Latest Funding Round

Applied Blockchain, a blockchain solutions development and consulting company, has just brought in £2 million in a funding round, according to a release from the group.

This round was lead by QBN Capital, a venture capital firm based in Hong Kong. An excerpt from the release notes what they’ll be doing with the funds:

“The newly-injected funds will be invested in developing a platform using privacy-enhancing technologies to help companies to collaborate and generate meaningful outcomes together, without having to share any of their data.”

Since starting out, Applied Blockchain has provided over 70 solutions to startups and other groups that have worked with the company. Now, they’re working to expand their offerings even more, protecting their information along the way.

Speaking on the matter is Adi Ben-Ari, a founder and CEO at Applied Blockchain, who said:

“We are very excited to be building a platform to meet the demands of our enterprise clients to do more with their data, while keeping it safe, secure and private. We have now received funding from a strategic venture capital firm, QBN Capital, and we look forward to further developing our privacy-preserving technology and working with them to extend our reach into the Asian markets.”

Recently, Binance, the world’s largest cryptocurrency exchange, invested $50 million to help blockchain startups in India, as InsideBitcoins has previously reported on.