On one hand, blockchain is fighting battles for gaining approval and support but on the other hand, we notice that blockchain based projects are seeing investments and funds of million dollars worth. The big pool of already well-known companies who have successfully raised million dollar funds saw the induction of San Francisco based Chronicled in a very recent.
Chronicled, a software technology company, has successfully raised $16 million Series A funding round which was led by Mandra Capitol, a Hong Kong-based venture capital. Apart from Madra Capitol, Streamlined Ventures, David Aho, Frank Fiore, and The Perkins Fund also participated in the funding process. Chronicled is currently working on MediLedger Network along with some other companies. The funding generated is expected to be used for expanding the MediLedger Network. Apart from expanding the industry blockchain network, Chronicled will be utilizing the revenue for opening a development office in Canadian tech hub, Vancouver.
The principal of Mandra Capital, SongYi Zhang is excited about the project led by Chronicled. He considers the blockchain application networks to be beneficial in the long run. Apart from that, he appreciated the company for pursuing a traditional method of funding rather than the ICOs which are used by many other companies in the space. He concluded that Chronicled was disciplined and outstanding. Moreover, he gave credit to Chronicled for concentrating on coming up with applications that provided quantifiable ROI value.
Chronicled is a founding member of Enterprise Ethereum Alliance, Trusted IoT Alliance, and Mobility Open Blockchain Initiative. It was the first supply chain company to adopt zk-SNARKS. With its network and protocols, Chronicled has helped various industries to work efficiently with less operational cost. The industries benefiting from Chronicled’s platform include agriculture, pharmaceuticals, chemicals, automotive, precious metals and minerals, electronics etc.
A few days ago, Monerium also raised million dollar worth funds. The blockchain startup was aided by ConsesnSys, Hof Holdings and Crowberry Capital to raise a seeding fund of $2 million worth. Monerium aimed for facilitating the process of money transactions by linking fiat with blockchain. These huge amounts of fundings raised by blockchain based companies such as Chronicled and Monerium depict the level of trust people have for the blockchain technology. To see if people continue showing trust in the future as well, we have no other option than to wait for the projects to complete.