With Money 20/20 comes exciting news! Case in point, Chainvine, a provider of cutting edge Distributed Ledger Technologies that develops bespoke, white label, blockchain platforms, is now publicly celebrating a £2.5M private equity investment from Deepbridge Capital. The platform works closely with management teams to create a simple evolution of their current systems that have mainly focused in wine, mining and legal sectors. The new funding will enable them to commercialize its products and expand operations and to expand its client base and commercialize its revolutionary ‘Intelligent’ products.
“We’re very excited to be working with Deepbridge. Their significant expertise will prove invaluable as we commercialise and scale our business,” opined Chainvine Founder and CEO Oliver Oram. “We truly believe that Distributed Ledger Technologies have the potential to change the way businesses operate. The technology allows for unparalleled levels of transparency and efficiency that will allow companies to operate truly sustainably.”
Headquartered in Stockholm and London Chainvine offers clients ‘Intelligent Commodities’, which when integrated with Internet of Things (IOT) partners, enables companies to track physical commodities and record supply chain data, e.g. production, transit, and temperature records, on the blockchain to allow for highly intuitive automated data management.
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Chainvine has also developed ‘Intelligent Contracts’, which enables clients to better manage contract data, by ensuring it is permanently recorded on the blockchain and giving them access to the technology’s self-executing digital contracts system. These two products aim to reduce the cost of trust within a business, thus increasing profit margins and efficiency.
As part of the Series A funding round, Kieran O’Gorman, Technical Partner at Deepbridge Capital has been appointed to the Chainvine board to provide high level strategic advice.
“At Deepbridge, we invest in impressive teams, which have the skills and technical knowledge to create globally scalable products, and we believe Chainvine and its novel use of Distributed Ledger Technology meets these vital criteria,” averred Deepbridge Capital Technical Partner Kieran O’Gorman. “We look forward to working in partnership with Chainvine during its continued development and commercialisation.”