Blockchain Startup Adjoint Announces First Close of One Million Dollar Pre-Seed Round

Venture funds and angel investors provide $1.05MM for further development of unique distributed ledger solutions for finance

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Adjoint has announced the first close, at $1.05 million, of a pre-seed round, with participation from Fintech Angels, venture funds including Chicago Trading Company (CTC) Ventures, Danhua Capital, Kluz Ventures, and prominent angels from the U.S., UK, and Japan.

“We are gratified by the reception and support we’ve received from investors who see the opportunity of eliminating reconciliation costs, risks, and errors for post-trade clearing and settlement in energy trading and the broader capital markets,” commented Havell Rodrigues, CEO and Co-Founder of Adjoint.

Adjoint is developing a full-stack platform that encompasses all stages of the smart contract lifecycle from conception to deployment for financial services clients. Smart contracts are small applications that run on a decentralized database and automatically mediate the terms of agreement between parties without the need to manually synchronize data or involve trusted third parties. They offer efficiency, redundancy, and auditability. Adjoint’s solution is built from the ground up to meet the needs of institutions for privacy, security, and scalability.

“Havell is putting together a great team and is off to a fantastic start with Adjoint. We are pleased to support them as they grow,” noted Artur Kluz, Managing Partner of Kluz Ventures. “As investors in FinTech in U.S., Europe, and elsewhere,” he continued, “we were impressed with the Adjoint approach.” Kluz Ventures invested in Adjoint through The Next Impact, one of its venture funds focused on transformative technologies: AI, Machine Learning, Big Data, FinTech, blockchain, and VR.

“We have created a powerful asset modeling language that allows financial domain experts to create smart contracts,” said Darren Tseng, Adjoint Co-Founder & VP of Product. “These smart contracts accurately represent sophisticated financial instruments on the distributed ledger, and our platform can be used to easily compose, analyze, and mediate these contracts. This enables users from financial institutions to view and control the whole life-cycle of financial smart contracts –  from trade capture, counterparty agreement, netting, settlement, and reporting.”

About Richard Kastelein

Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, partner of token design and ICO architecture company Cryptoassets Design Group and co-founder and director at education company Blockchain Partners.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Beijing, Venice, Nanchang, Shanghai, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona, San Meteo etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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