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Blockchain (Company) Raises $40 Million in Funding  

Blockchain (Company) Raises $40 Million in Funding  
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Investors are cashing in on the new age currency and financial systems: bitcoin and blockchain.

Blockchain, a company that specializes in bitcoin and blockchain technology has raised $40 million in its second round of institutional funding, led by European venture capital firm Lakestar and Google’s venture capital wing, GV.

Other investors who participated in this round were Nokota Management and Digital Currency Group along with existing investors Lightspeed Venture Partners, Prudence Holdings, Virgin, and Sir Richard Branson.

With the $40 million addition, the total funds raised by Blockchain rose to $70 million. With this new round of funding, the organization claims to have the largest investment in a startup since Brexit. Blockchain, while headquartered in Luxembourg, has the majority of its employees working from its London office.

Founded in 2011, the startup provides tools to use bitcoin and blockchain, next generation technology, to strengthen digital currency. One of the largest digital wallets, Blockchain.info has around 15 million open accounts for bitcoins.

Commenting on the funding round, company founder and CEO Peter Smith said investors can expect the company to make big decisions in the areas of research and development to strengthen their portfolio and focus on global expansion. “Innovating, disrupting, revolutionizing a century old industry takes time,” Smith said, “We’ve made significant strides, but we’re just getting started.”

Currently the company has around 50 employees but it plans to expand as part of the fundraising round.

Bitcoin has gained tremendous popularity in the last few months because of the price rally that it has witnessed. Global banks are also embracing this technology and investing resources to implement its functions that will integrate bitcoin with the mainstream financial system.

Anirudh M. for TechFunnel.com


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Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.

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