Blockchain provenance startup Everledger has raised $20 million in a Series A spherical led by web large Tencent.
In an announcement on Monday, Everledger mentioned Tencent has now joined its board as a part of the funding deal. Bloomberg Beta, Rakuten, Fidelity, Graphene Ventures and Vickers Venture Partners additionally took half within the spherical.
The U.Okay.-based startup set out as a platform utilizing blockchain to confirm the authenticity of diamonds, and his since expanded to different areas the place provenance and transparency are of key significance resembling minerals, luxurious items wine and artwork. Back in 2019, the agency took half in an accelerator program run by Mastercard.
Leanne Kemp, founder and CEO of Everledger, mentioned within the announcement:
“Today’s announcement amplifies our commitment to global markets, whilst fuelling our industry momentum as we continue to build Everledger. Having this strong investor cohort join us at this stage in our development is both validation of the innovation we’ve displayed to date, and a statement of future intent.”
Kemp additionally revealed that her agency will launch a WeChat Mini Program for blockchain-tracked diamonds. Th service is aimed to allow WeChat customers to “buy jewellery with more transparency and security,” she mentioned?.
With Tencent now a associate, Kemp additional mentioned the connection will assist Everledger strengthen its presence in China.
Discussing the explanations for backing the blockchain agency, Tencent chief technique officer James Mitchell mentioned, “Everledger’s application of blockchain technology enhances value to consumers and reduces risks for businesses across the industry.”
Leanne Kemp picture by way of CoinDesk archives
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