Chronicled Blockchain Supply Chain Company Secures $16 Million in Investment Funding Round

The U.S.-based supply chain company Chronicled announced that they were able to raise $16 million in a Series A funding round.

The information as released a few days ago in an official press release. The round was led by Mandra Capital. Other participants were Streamlined Ventures, The Perkins Fund and Frank Fiore. According to Chronicled, this Series A funding will be used to support the pharmaceutical industry and its operational growth. At the same time, Chronicled’s engineering team will be expanding in Vancouver where there is a large number of crypto and tech companies.

Now, Chronicled is piloting the MediLedger Network alongside four other companies such as manufacturers, distributors and solution providers.

The intention is to launch the commercial version of the network as soon as this year. With the funds raised in the Series A funding, they will expand through new integrations and additional protocols that address channel integrity and chargebacks.

SongYi Zhang, the Principal of Mandra Capital, said about Chronicled:

“What excites us about Chronicled is that they are building blockchain application networks for the long-term. While many companies in the space are conducting ICOs – fueling speculation and hurting the legitimacy of the space – Chronicled has stayed disciplined and pursued traditional funding while focusing on developing needed applications with quantifiable ROI value.”

The expansion plan in Vancouver includes opening a new development office that will be increasing the number of employees working on the company. At the moment, Chronicled has 50 individuals working and it might add 20 new employees over the next year. The intention is to target San Francisco and Vancouver.

According to the press release, Chronicled was one of the first companies that developed a commercial enterprise platform that is based on blockchain technology. There are several industries leveraging the privacy features that the network offers. There are several industries working with the current platform, including the pharmaceutical, electronics, chemicals and others.

In order to improve client’s privacy, Chronicled employs zk-SNARKS on a commercial scale. This technology is being used by other companies and cryptocurrencies such as ZCash (ZEC), or eventually Tron (TRX) in the future.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,428FansLike
2,793FollowersFollow
4,179FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

China’s National People’s Congress (NPC) Suggests a Government-Backed Blockchain Fund

The National People's Congress (NPC) in China has proposed the creation of a government-backed blockchain fund in its ongoing annual meeting. The Chinese legislative body...

The Mysterious Entity that Caused the Bitcoin Network fees to Jump 146% in May

Bitcoin price has yet again taken a dive to $8,800, recording a drop of 4%. Meanwhile, Network Demand Score which is a metric incorporating network...

Ledger and Trezor Crypto Wallets Dismiss ‘Rumored’ Hack Through a Shopify Exploit

A hacker has allegedly compromised the databases of Ledger, Trezor, Keepkey and Shapeshift hard wallets in a Shopify exploit. These storages are considered to...

Tulip Trust Addresses are Used by Someone to Sign “Craig Wright is a Liar and a Fraud”

Some of the addresses that Craig Wright, who claims himself to be the pseudo-anonymous bitcoin creator Satoshi Nakamoto, has filed in the ongoing court...

Bitcoin Market Outlook: A Long Game Looking Bearish in the Short Term

Last week, the price of bitcoin dropped below $9,000 and has been trading under $9,300 throughout the week. On the weekend, we yet again dropped...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today