BlockApps Has Raised $41M in Funding

BlockApps, an enterprise blockchain platform, said today that it had raised $41 million in funding to expand its development team and accelerate its go-to-market strategy. Liberty City Ventures led the round, with Eidetic Ventures, Morgan Creek Digital, and Givic joining as new participants. ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX were among the existing investors. According to a statement from BlockApps, the money would be used to “grow its partner programme and bring in additional actual assets to STRATO, the company’s industry-leading business blockchain.” An enterprise blockchain functions similarly to other networks of this type, except that data visibility can be limited to a small group of people, providing members with more privacy than a public network like Bitcoin or Ethereum. These blockchains can be used to streamline procedures such as supply chain tracking. BlockApps Has Released Food Tracking App Talking about the firm, BlockApps was established in the year 2015 and has raised $41 million, which Liberty City Ventures sponsored. In the last 14 months, BlockApps has released an app that tracks the origins of food and agricultural products to the seed. It has also introduced a carbon data management service for businesses. Amazon, Bayer Crop Science, and Blockchain For Energy, an organization of significant energy businesses, collaborated on the project. BlockApps, the...