BlockApps secured Series A funding led by Fitz Gate Ventures

BlockApps, an enterprise blockchain platform provider, has recently raised an undisclosed amount of funding in Series A round.

The round was led by the Fitz Gate Ventures and joined by the Elliptic Curve Ventures, Galaxy Digital Ventures, Bloccelerate Fenbushi Capital and follow on investment from ConsenSys.

The newly raised funds will be utilized to accelerate the growth in the energy, healthcare, travel and agriculture industries, notes the announcement.

Executive Opinion

BlockApps CEO, Kieren James Lubin, said, "We are extremely excited to be working with this exceptional group of investors. We have a healthy mix of traditional venture capital players, along with some of the best blockchain-focused firms participating. Leveraging their expertise will help us achieve our vision for secure, scalable blockchain business networks and accelerate our mission of restoring trust, reliability, and efficiency to online transactions,".

Fitz Gate Ventures Managing Director, Mark Poag, said, "BlockApps' exceptional leadership team including CEO Kieren James Lubin has a strong vision for permission industry networks enhanced by enterprise-grade blockchain technology. We are excited by the traction and adoption of their flagship STRATO platform by large enterprises and have confidence that the market will continue to validate their new approach to business networks,".

BlockApps's STRATO offering

BlockApps claims that its Ethereum based STRATO offering was the first blockchain as a Service platform. Since its launch on the Microsoft Azure cloud platform in the year 2015, it is in use by hundreds of partners which even includes the Fortune 500 companies. Apart from that, BlockApps boasts relationships with the TicketMaster, United Airlines, Bayer, and John Hancock.

The platform is one of the few BaaS (Blockchain-as-a-Service) solutions available on the AWS, Google Cloud and Azure. BlockApps hopes to reach more and diverse sectors with STRATO using recently raised funding.

Previously, BlockApps teamed up with the Tech Mahindra, to accelerate the adoption of blockchain business networks.

The partnership will use the Tech Mahindra in assisting around 935 corporate global customers to render seamless integration with the BlockApps STRATO, that enables the building and running of blockchain business networks across all the segments.