Smarter Contracts, a leading innovator in the blockchain-based data privacy sector, secured £2.65m in equity funding.
The UK-based tech company secured the funding through one of their existing private investors. This investment comes on the heels of an earlier announcement, less than five months ago, about Smarter Contracts receiving over $1m in equity investment. The continuous financial support is a testament to the confidence investors have in the team, their market traction, and the quality of their products and services.
With this new injection of funds, Smarter Contracts aims to significantly bolster its development and design capabilities. The primary focus will be on enhancing the product features of Pulse®, catering to the increasing demands of their growing customer base and pipeline. Key initiatives include extending the functionality of the smart contract underpinning the Pulse® protocol and integrating Pulse® with generative AI. This latter project is in collaboration with Elder Research, a respected AI and Data Science company, which took a minority stake in Smarter Contracts back in February 2021.
Pulse® is hailed as a “proof-of-permissions protocol,” addressing a critical need in today’s data-driven world. Organisations often struggle with managing how their customer data, both on-chain and off-chain, is shared and used by various stakeholders. Pulse® offers a solution by providing a real-time view of the data permissions an organisation holds, ensuring compliant data sharing and usage, thus fostering trust and enabling more relevant product and service offerings through compliant personalisation and analytics.
Smarter Contracts’ Founder and CEO, Wayne Lloyd, expressed his pride and gratitude for the investment, stating, “I’m extremely proud that we’re able to announce this investment into Smarter Contracts. My team deserves all the accolades given how much hard work and commitment they have put into building a world-class product that solves real problems in relation to data and data privacy.
“The problems we saw in 2019 have manifested as we expected and the future we saw back then has arrived. I’m delighted we’re arriving at this point with the right product, the right team, favourable regulatory conditions that support the need for a solution like Pulse® and the funding we need to scale. It marks a very exciting moment in the company’s history, and I would like to take this opportunity to thank our investors for believing in the team and the vision we have”
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