The blockchain firm with its own blockchain platform (STRATO) has raised $41 million in a new funding round led by startup fund Liberty City Ventures to bring more real assets, such as agricultural and energy products, to STRATO.
New investors like Morgan Creek Digital, Eidetic Ventures and Givic also participated in the funding round. Existing investors that also carried the funding include ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX.
Also, as part of the arrangement, Liberty City Ventures and Morgan Creek Digital will get seats on BlockApps’ board of directors.
The business focuses on developing applications on its “blockchain-as-a-service” platform, STRATO. The announcement said that BlockApps will use the funds “to accelerate go-to-market strategy, grow its development team and drive innovation through its permissioned blockchain ecosystem of businesses from Fortune 500 companies to startups.”
Murtaza Akbar, the Founding Partner at Liberty City Ventures, said, “[BlockApps is] solving some of the world’s biggest challenges and causing industries to rethink what’s possible with blockchain technology – especially when it comes to navigating the complexities of today’s sustainability challenges and supply chain issues.”
Although blockchain technology has grown and advanced throughout the years, it is still divorced from the rest of reality, outside of the crypto world. However, in many artistic avenues like arts, sports, and GameFi Web3 spectators are helping them shine.
One such spectator is crypto exchange platform KuCoin which declared a $100 million ‘Creators Fund’ to help early-stage NFT projects and digital artists through its KuCoin Ventures and its NFT marketplace Windvane.
