BlockApps, an enterprise blockchain provider, has raised $41 million in funding in a round led by Liberty City Ventures. BlockApps has its own blockchain platform – STRATO, which is in use as some large firms like Bayer, as well as the US government.
Other new investors in the round include Morgan Creek Digital, Eidetic Ventures, and Givic. Existing investors ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX also participated. BlockApps noted that both Liberty City Ventures and Morgan Creek Digital gain a seat on BlockApps’ Board of Directors.
BlockApps said it will use the funding to accelerate its go-to-market strategy and drive innovation through its permissioned blockchain ecosystem.
Kieren James-Lubin, CEO of BlockApps, said their investors have helped to build some of the most successful blockchain companies in the world:
“Their experience will be invaluable as we scale the business by ensuring the success of our current customers, broadening our customer base, deepening our partnerships, and conducting strategic transactions.”
Murtaza Akbar, founding partner at Liberty City Ventures, called BlockApps leadership a who’s who of Ethereum pioneers:
“What’s more, they’re solving some of the world’s biggest challenges and causing industries to re-think what’s possible with blockchain technology – especially when it comes to navigating the complexities of today’s sustainability challenges and supply chain issues.”
BlockApps aims to bring real assets onto the blockchain to increase their value and improve industries. BlockApps partners include big names like Amazon as well as Blockchain For Energy, a consortium of the world’s largest energy companies that includes Repsol, Chevron, ExxonMobil, Schlumberger and others.
“BlockApps is one of the most exciting players in enterprise blockchain,” claimed Xavier Segura, general partner at Morgan Creek Digital, calling the opportunity even bigger than the hot NFT market. “The company also has a strong business model that isn’t exposed to the volatility of crypto assets,” added Segura.