British blockchain-enabled provide chain agency Everledger has raised $20 million in a brand new funding spherical participated by Chinese Internet big Tencent.
“Everledger and Tencent are a natural fit”
Following the funding, Tencent will now be represented within the Everledger board, the corporate mentioned in a press launch shared with Cointelegraph on Sept. 24.
The new funding will assist Everledger to proceed bettering transparency, sustainability and traceability throughout world provide chains. Leanne Kemp, founder and CEO of Everledger, additionally identified the significance of Tencent’s participation, outlining the potential synergies of the partnership with the corporate.
“Everledger and Tencent are a natural fit,” Kemp said, explaining that the corporations share strategic together with a number of options which can be a part of their ecosystem, whereas the corporate additionally plans to increase its developments in China.
Specifically, Everledger is planning to launch a singular program for blockchain-powered diamond monitoring apparently primarily based on Tencent’s WeChat. Kemp said:
“As an example, we will launch the world’s first WeChat Mini Program for blockchain-enabled diamonds, uniting key stakeholders in the diamond value chain, which aims to empower WeChat users to buy jewelry with more transparency and security.”
Other buyers
The new Series A funding spherical included main world buyers akin to Japan’s retail big Rakuten, American funding administration agency Fidelity, Bloomberg’s enterprise fund Bloomberg Beta, in addition to Singapore-based Vickers Venture Partners and Graphene Ventures, the press launch notes.
Founded in 2015, Everledger is a number one world disruptor of blockchain-enabled administration and monitoring of provide chains as the corporate pioneered blockchain know-how for monitoring diamonds in May 2019.
Everledger’s product relies on Hyperledger Fabric, whereas the IBM Blockchain Platform offers a further layer of safety on the platform.
On Sept. 23, Tencent’s largest shareholder Naspers participated in a $15 million funding in blockchain recreation developer Immutable, which created widespread blockchain recreation Gods Unchained.
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