Applied Blockchain, a distributed solution developer, has netted £2m in a funding round led by Hong Kong-based venture investor QBN Capital.
With the fresh proceeds, the company will look to develop a new platform which leverage data privacy enhancing technologies to help companies collaborate and generate meaningful outcomes together, without needing to share any data.
The company chose to develop the new solution due to the rising cybersecurity and regulatory requirements companies are facing around their data. With companies becoming more digital, they will need to better handle their private and sensitive data.
Applied Blockchain has already begun working with its clients to test the platform within their respective markets, which include energy, shipping, aviation, automotive, telecoms and financial services.
The London-based FinTech has designed more than 70 distributed solutions for startups and corporates.
Applied Blockchain founder and CEO Adi Ben-Ari said, “We are very excited to be building a platform to meet the demands of our enterprise clients to do more with their data, while keeping it safe, secure and private.
“We have now received funding from a strategic venture capital firm, QBN Capital, and we look forward to further developing our privacy preserving technology and working with them to extend our reach into the Asian markets.”
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