StrongBlock – a private blockchain studio founded by the former executives of Block.one, the company behind the EOS blockchain – has closed a $4 million seed round, the firm announced Wednesday.
The round was led by Pangea Blockchain Fund and its limited partners including Copernicus Asset Management.
The startup, which was founded last year, to build systems for enterprises, financial institutions and governments using EOSIO open source code, promising a "turnkey implementation, service level guarantees, ongoing client support and consulting services."
“Before Red Hat, Linux was nearly impossible for enterprises to put into production. Now Red Hat is the Enterprise Linux standard,” David Moss, StrongBlock founder and CEO, said in the announcement. “If there was a way to push a button and get an enterprise-ready blockchain, you’d move further, faster. StrongBlock does that. We make blockchain easy.”
This is the first investment for the Swiss-based Pangea Blockchain Fund, launched in the end of February after raising $22 million from investors including Roger Ver.
The startup was chosen because of the quality of its founders' team and it's mission to use blockchain technology "to change underlying systems that power the things we do every day,” said James Duplessie, co-founder of Blockchain Investment Advisory Sagl, Pangea’s Swiss-based investment adviser.
Moss started his career at Oracle and worked as a CTO for a range of startups, including advertising tech platform BroadSpring,
“StrongBlock’s technology will enable blockchains to become ubiquitous, fueling massive business transformations ranging from energy and public utilities to retail and healthcare," Copernicus CIO Maggie Rokkum-Testi said on the investment. "The possibilities are virtually endless and can be implemented in every industry, delivering the potential of blockchain technology to the masses in a real, profound way.”
EOS and keyboard image via Shutterstock