Blockchain Startup Factom Raises $8 Million in Extended Series A

Blockchain startup Factom has finished raising just over $8m as part of an extended Series A round.

AccessTimeIconApr 18, 2017 at 6:26 p.m. UTC
Updated Aug 7, 2021 at 2:21 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Blockchain startup Factom has finished raising just over $8m as part of an extended Series A round.

Last October, the firm said that it had raised $4.2m as part of the funding in an effort to raise capital ahead of planned product launches. Taking part in the round, according to AustinInno, include Harvest Equity and Peeli Ventures, along with several as-yet-unnamed local investors.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • According to public records from the US Securities and Exchange Commission, Factom raised approximately $8,027,535 during the round.

    Previously, the firm – which uses its own blockchain network to verify the the integrity of data – had raised $1.1m in a crowdsale conducted in mid-2015, before going on to raise about $400,000 in seed funding later that year.

    Yet since its launch, the project has attracted its share of criticism, centered mainly at its crowdsale of a publicly traded token (known as factoids), as well as a headline-grabbing – but ultimately stalled – effort to partner with the government of Honduras.

    In recent months, the company has moved to launch a new mortgage-focused product, dubbed Harmony.

    Miniature coin stack image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.