Blockchain platform developer Aergo raised $7.5 million from Korean banks
Blockchain startup Blockco, supported by South Korean technology company Samsung, attracted $7.5 million in the course of the B+ series round.
Shinhan, the oldest bank in South Korea and the largest currency bank in the country, KEB, as well as LB Investment, a healthcare-oriented venture capital firm, and Dadam Game, a venture capital arm of an entertainment firm in Seoul, took part in the investment round.
Blockco was founded in 2014 and in July 2016 attracted, presumably, $1.2 million from Samsung Ventures. In 2015, the startup launched a blockchain-as-a-service platform called Coinstack, and in 2018, it launched the core network of the Aergo blockchain protocol.
Blockco also participated in the development of NexLedger's limited-access blockchain system in collaboration with Samsung Group and Amazon Web Services. Nexledger was introduced in 2017 and allows us to work with tools to manage digital financial transactions and data exchange.
"We will demonstrate various blockchain solutions that can be used in the field of smart grids, where it is difficult to implement effective commercial models with the existing information infrastructure," commented today's announcement of Blockco CEO Kim Vong-Beom.
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