According to a press statement on Tuesday, BlockApps has raised $41 million in a new investment round that would aid the blockchain company in adding additional actual assets, such as agricultural and energy items, to its network. blockapps liberty city ventures 50mmelinektechcrunch.
Businesses can improve their operations’ transparency and traceability with the aid of BlockApps. The business assists in managing business networks on the Ethereum-compatible STRATO blockchain solution. BlockApps intends to utilize the money to expand its workforce and assist more Fortune 500 firms and startups in utilizing its blockchain network. blockapps 41m liberty city ventures 50mmelinektechcrunch.
Liberty City Ventures served as the round’s lead investor, and additional investors included ConsenSys, Morgan Creek Digital, and Eidetic Ventures.
Murtaza Akbar, the co-founder at Liberty City Ventures, stated in the press release that “[BlockApps] is] attempting to solve some of the world’s biggest challenges and starting to cause businesses to reconsider what’s feasible with blockchain technology.” This is particularly true when it comes to exploring the complexity of today’s sustainability obstacles and supply chain issues.
In the past, BlockApps has managed carbon data and tracked the lifecycle of food and agriculture products using its blockchain application. It has collaborated with significant energy businesses Blockchain For Energy and Bayer Crop Science, a crop protection company, as well as Amazon.
Liberty City Ventures, based in New York, has recently started investing heavily in the cryptocurrency market. Together with Hong Kong-based venture capital firm Animoca Brands, it co-led the $88 million fundraising round for cryptocurrency custody provider Hex Trust in March.
Property, titles, receivables, and “everything on a balance sheet today that we don’t see mirrored in the blockchain world” are examples of real assets, according to James-Lubin.
We are attempting to implement that on the blockchain.
When everything is recorded on one common ledger, there are numerous opportunities, he said. We envisage ourselves and other businesses bridging the technology so it can be used by both large and small businesses daily.
Liberty City Ventures and Morgan Creek Digital will also designate representation to the BlockApps board of directors in addition to providing new funding. Which employees from both businesses will sit on the board was kept a secret.
There is a lot of excitement about blockchain technology, and we are entering a time of hypergrowth, according to James-Lubin. “I sense the ‘taking off’ moment is approaching, and this year is going to be a fantastic adventure,” the speaker said. Things are going really quickly and becoming better.
