Samsung Ventures’ Blocko Partner AERGO Raises $30 Million Business Data Blockchain Creation
The AERGO which is a funded startup venture for Samsung and also a strategic technology partner for Blocko has just gone ahead to announce that it has been able to secure $30 million in a venture funding round. With this, the company will be able to share data through the trustless blockchain networks in the market.
— Aergo (@aergo_io) November 16, 2018
The Blocko company has been able to support, develop and is planning on using the AERGO platform to expand and provide a much broader set of IT enterprise solutions together with some cloud-based applications. This will allow some development capabilities to the different clients of the blockchain technology.
About The AERGO Platform
The AERGO platform has been designed as an end to end platform with an open source that has featured some customizable hybrid and high scale blockchain deployments. It is also a server-less cloud architecture together with a data bridging technology. It was founded by the Blocko leadership team that is consisting of the enterprise-IT and a few blockchain veterans in the market.
The architecture for the particular company will allow the different enterprises to easily transfer data without having to take the necessary steps of trusting an intermediary. While all this is happening, they are flexibly governed and also integrated into the existing system.
The funds the company has gotten will be used in improving the platform in the following ways:
– They will ensure that they are able to release a new base layer for the public blockchain protocol.
– It will also ensure it delivers a set of easy to use IT integration software with the essential deployment software.
– The company will also do the necessary steps to scale out the current research and development team.
– Expect to see several new applications launched on the platform which can be used in the demonstration of use cases.
– They will also be expanding the current partner ecosystem and the current global reach of the company.
The company has been able to raise about $30 million that will be used in building the blockchain platform. One that will be able to incorporate the Blocko insights that have been gained in the delivery of 23 private blockchain products to the fintech companies, government bodies together with the enterprises in the market, this is since 2014.
For this particular funding round, it included several companies like the GBIC, Sequoia Capital China, FBG Capital, Neo Global Capital, Arrington XRP, just to name a few. With the funding that has come from these large traditional VCs together with the multinational conglomerates and not forgetting the connected cryptocurrency funds in the market, it is clear the company is just a step closer to the creation of the transformative open network.
With the open network, business will be able to quickly deploy the distributed application that can be used in a commercial level. We should keep our eyes peeled as they are just a step closer to making the distributed trust to be scaled.
Mr Zamani, who is the Chairman and the Founder of the AGERO Organization, firmly believes that the success of this round funding has been credited to the enterprise-IT open source leadership experience that they hold. Not forgetting the four years blockchain implementation experience that Blocko holds in the development of several production systems to different clients around the globe, it is the likes of Lotte Card, Samsung Card, Korea Exchange, just to name a few.
In 2016 when Samsung made there very first investment in Blocko their services slowly become in demand in most of the large companies in the market. Thus this is a promising move we need to watch out for.