Singapore-Based Blockchain Solutions Provider Bluzelle Closes US$1.5 Million Series a Roundby Company Announcement August 29, 2017
Singapore based blockchain solutions provider Bluzelle has announced that it has raised a US$ 1.5 million Series A round.
Aiming to be the database of the sharing economy and next iteration of the internet, Bluzelle is developing a decentralized, on-demand, scalable database service that is low-cost, quick to deploy, and easily scalable. Bluzelle was recently appointed by the World Economic Forum as a Technology Pioneer for 2017 and was named to the Global FinTech 100.
Realizing the potential for the blockchain to provide superior solutions as compared to existing legacy systems which are expensive to maintain, Bluzelle was founded in 2014 by CEO Pavel Bains & CTO Neeraj
Murarka to provide blockchain application management solutions for enterprises. Over the past 15 months, the company has provided solutions for global institutions, working with partners such as KPMG, Temenos and Microsoft. While working with its enterprise clients, Pavel and Neeraj recognized the need for better database services that could be used by developers of all sizes.
“Blockchain technologies are propelling the next generation of the Internet, which we call the Internet of Value.”
said Pavel Bains, CEO and Co-Founder – Bluzelle.
“By 2020, there will be over 20 billion devices sending data to each other – and that data will have to be stored securely, with high performance and low cost. In the blockchain powered New Internet, everything from applications to back-end platforms to data storage will be decentralized. At Bluzelle, we’re focused on providing a decentralized database service that will allow the New Internet to run efficiently and scale exponentially. What Oracle provides for the current Internet, we provide for the New Internet.”
The proposed decentralized database network will consist of producers (farmers) who can earn Bluzelle Tokens by providing hardware resources and consumers (software developers) who use Bluzelle’s database services provided by the collective of producers by paying with Bluzelle Tokens. To boost its community building efforts, Bluzelle is looking to make a token sale of its own Bluzelle tokens in late October.
The participants in the round are international Venture Capitalists specializing in blockchain, AI, FinTech and Infrastructure Tech – Global Brain, LUN Partners Capital and True Global Ventures. Bluzelle will use the funding to scale up the company’s enterprise business, develop its decentralized database pla]orm,and build its ini4al developer community.
Yasuhiko Yurimoto, CEO of Global Brain, said,
“Based on our global investment activity, Bluzelle is one of the only companies to provide solid enterprise blockchain services. With Bluzelle’s team of experts, business position, current solution and future product roadmap, we are confident that Bluzelle will take the blockchain ecosystem to the next frontier.”
Kotsuki Kaede, Partner at LUN Partners Capital, said,
“Bluzelle is the leading provider of enterprise-grade blockchain technologies for financial institutions in Southeast Asia and beyond. Its upcoming token sale and development plans will ensure the company’s position as a perennial player in the global blockchain arena, extending its offering beyond enterprise-level clients to software developers everywhere. We are delighted to have Bluzelle join our FinTech ecosystem and look forward to helping the company establish synergistic relationships with our other portfolio companies.”
Featured image via Bluzelle Linkedin