A blockchain startup focused on know-your-customer (KYC) solutions has raised $1.6 million in a new seed funding round.
Norbloc's round was led by Marathon Venture Capital, a VC firm based in Greece that launched in March. Other participants in the round include Digital Currency Group, Inbox Capital, Back in Black, as well as the founding team of classifieds website Avito, the startup announced today.
Vaultoro, a bitcoin-to-gold exchange, has secured funding from Finlab AG, a fintech company based in Frankfurt, Germany.
Vaultoro co-founder Joshua Scigala stated that the funding from Finlab will allow them to reach their goals faster. The first upgrade the company plans to implement will be a real-time gold-backed debit card. The card will allow the customers of the firm to hold their allocated gold — stored in a high-security Swiss bullion vault — while they can easily spend the funds anywhere Visa or Mastercard is accepted.
The venture arm of one of the most recognizable names in the tech industry hasn't yet put its money where its mouth is on blockchain – but that may be about to change.
While global tech giant IBM has so far focused mostly on investing employee time and energy into the emerging technology, it's only just now gearing up to take an equity stake in an industry startup. In what will no doubt be taken as a sign of the blockchain industry's maturity, for IBM Ventures, investing cash is finally becoming more attractive.
ConsenSys, an Ethereum production studio based in Brooklyn, NY, is launching a $50 million venture arm, and it has picked Kavita Gupta to run it. Gupta’s job will be to oversee the new venture and help structure deals with the startups.
It is not uncommon for companies with investment capital to form their own investment arm. For the most part, the goal is to fund startups that could drive value for the parent company down the line.