BlockApps has secured $41 million in new funding in a round led by Liberty City Ventures, including participation from new investors Morgan Creek Digital, Eidetic Ventures, and Givic.
Existing investors ConsenSys, Bloccelerate, Fitz Gate Ventures, Arab Angels, Kenetic Capital, and PropelX also participated. Liberty City Ventures and Morgan Creek Digital will each appoint a representative to join BlockApps’ Board of Directors.
The new funding comes at a time of rapid investment and business interest in blockchain technology. BlockApps will use the funding to accelerate its go-to-market strategy, grow its development team, and drive innovation through its permissioned blockchain ecosystem of businesses from Fortune 500 companies to start-ups. In addition, BlockApps will expand its partner program and bring in more real assets to STRATO, the company’s industry-leading enterprise blockchain.
“BlockApps’ founding and leadership team is a who’s who of Ethereum pioneers that are delivering true business value to customers,” said Murtaza Akbar, founding partner at Liberty City Ventures. “What’s more, they’re solving some of the world’s biggest challenges and causing industries to re-think what’s possible with blockchain technology – especially when it comes to navigating the complexities of today’s sustainability challenges and supply chain issues.”
BlockApps is bringing real assets onto the blockchain to increase their value and revolutionize industries such as agriculture and energy. This includes partnering with some of the world’s largest companies like Amazon and Bayer Crop Science, as well as Blockchain For Energy, a consortium of the world’s largest energy companies that includes Repsol, Chevron, ExxonMobil, Schlumberger and more. As the leader in Web3Commerce for Business, BlockApps helps businesses increase the value of their assets by bringing more transparency and traceability to their operations. This streamlines supply chains and helps them meet their sustainability goals.
“BlockApps is one of the most exciting players in enterprise blockchain,” said Xavier Segura, general partner at Morgan Creek Digital. “Crypto and NFT companies have seen some early successes in the industry, but there’s an even bigger opportunity for BlockApps to eclipse that as one of the only companies out there today putting real, tangible assets on the blockchain. The company also has a strong business model that isn’t exposed to the volatility of crypto assets.”
BlockApps has quickly established itself as a pioneer in innovative blockchain solutions for the enterprise. In the past 14 months, BlockApps launched, among other projects:
- TraceHarvest: the first blockchain application of its kind to track and trace the full lifecycle of food and agricultural products starting at the seed source.
- TraceCarbon: a net-zero blockchain application for carbon data management, product labeling and corporate reporting
- Seismic Entitlement Platform: a solution developed in partnership with Blockchain For Energy that brings greater efficiency and traceability to the seismic entitlement process
“We’re thrilled to welcome these new investors as we grow dramatically in 2022,” said Kieren James-Lubin, CEO of BlockApps. “Our investors, like Liberty City Ventures, have helped build some of the most successful blockchain companies in the world. Their experience will be invaluable as we scale the business by ensuring the success of our current customers, broadening our customer base, deepening our partnerships, and conducting strategic transactions.”