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

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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