Identity Startup Cambridge Blockchain Raises $1.7 Million

Blockchain identity startup Cambridge Blockchain has raised more than $1.78m in new funding, public records show.

AccessTimeIconJan 24, 2017 at 6:00 p.m. UTC
Updated Aug 18, 2021 at 5:38 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Blockchain identity startup Cambridge Blockchain has raised more than $1.7m in new funding, public records show.

According to a Form D published today by the US Securities and Exchange Commission, Cambridge Blockchain has raised $1,785,000 out of a total $2m, indicating that the startup's funding efforts are ongoing.

  • 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
  • Previous SEC filings show that the startup began raising funds in March 2016. The documents show that Cambridge Blockchain had raised $635k out of a planned fundraise of $1.5m as of that month, and in a filing from last October, the startup said it had raised $1.09m out of a planned $1.8m.

    It's not immediately clear if Cambridge Blockchain intends to raise additional capital past the $2m.

    That fundraising process began weeks after the firm won $15k during a blockchain startup competition hosted by Santander InnoVentures, the venture arm of Banco Santander. That event was held in late January of last year.

    At the time, CEO Matthew Commons emphasized his startup’s focus on identity in the context of both regulatory compliance and access to networks in which only certain users are allowed entry.

    "This is one of the most critical areas where blockchain technology needs to improve if it’s going to get out of the lab and into real enterprises," he told CoinDesk.

    Cambridge Blockchain did not immediately respond to a request for comment.

    Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Cambridge Blockchain.

    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.