nChain, the self-described “world-leading provider of enterprise-grade public blockchain solutions,” has revealed a lead investment in GeoSpock, a “Cambridge-based pioneer of world-scale data analysis and integration,” according to a press release from the group.
nChain has lead the $5.4 million investment round alongside Cambridge Innovation Capital (CIC), and other participants include Global Brain and NTT DOCOMO, the release also states.
“This transformational round will underpin GeoSpock’s further international expansion and set the stage for unprecedented opportunity to develop novel blockchain applications for national and world-scale datasets,” it states.
Sharing some thoughts on the matter is David Washburn, the CEO of nChain, who said:
“Like any other resource, data must be mined and then further refined to unlock its full value. GeoSpock is the leading platform in the market able to capture, organise and analyse the extreme-scale datasets of smart cities, smart nations, life-scale IoT and connected transportation systems. Where blockchain is the ideal technology to capitalise on that data, GeoSpock becomes the catalyst for unparalleled access to real-world, real-time data analytics at scale. With this investment, we aim to fuel GeoSpock’s continued growth and create new realities for our clients to utilise blockchain technology to its fullest potential.”