Distributed Ledgers Technology Pte Ltd, which operates blockchain-backed enterprise supply chain network #dltledgers, on Wednesday said it has secured Series B funding of $8.5 million (around Rs 66 crore) from family office of Tata Group and Centrum.
With this fundraise, the Singapore and Trivandrum-based firm’s valuation crossed $100 million, it said in a statement.
#dltledgers plans to use the fresh funds to expand its North American footprint as well as to scale its engineering teams and drive growth.
Founded by Samir Neji and Atul Patel in 2017, #dltledgers helps corporates and banks to build on a connected supply chain, enabling them to automate multi-party transactions, streamline processes and reduce cost.
“The global appetite for connected supply chains is growing and with the pandemic, its being deployed by most of the fortune 500 enterprises and banks. We are leading these markets globally and can play a role in collaborating and resolving gaps in extended supply-chain,” said Neji.
Startups backed by blockchain have been attracting investor interest in India in the recent months.
Last month, Lysto, a blockchain-based gaming platform had raised $12 million in its pre-Series A funding round from a clutch of investors including Square Peg, Beenext, Hashed, Tiger Global and Better Capital.
In June, blockchain deployment platform Zeeve had secured a seed funding of $2.65 million from Leo Capital and Blu Ventures.
