Blockchain API provider Gem kickstarted 2016 with a $7.1m Series A announced this week.
Gem, a leading blockchain platform provider, announced the funding was led by Pelion Venture Partners and participated in by KEC Ventures, Blockchain Capital, Digital Currency Group, RRE Ventures and more.
“We believe blockchain technology will transform how people and companies interact,” says Micah Winkelspecht, CEO and founder of Gem. “It will underpin entire industries and one day produce a blockchain economy that will form the underlying architecture of our daily lives.”
According to a recent report by technology-focused boutique investment bank Magister Advisors, the blockchain and bitcoin ecosystem received nearly $1 billion in funding since 2013, and that number is expected to increase by another $1 billion in 2017. Gem is the first blockchain company in 2016 to announce a formal round of funding. Gem’s investors are attracted to its fully customizable platform that refines blockchain technology into a data management application that can be applied cross-industry.
Ben Dahl, a partner at Pelion Venture Partners who led the funding round and has also joined Gem’s Board of Directors said:
“We have been monitoring the blockchain industry looking for a company that could bridge the divide between enabling developers and their projects, while also advancing blockchain use cases in larger enterprises. After spending time with Gem team and their customers, we became convinced they have the foresight, traction and leadership necessary to connect the enterprise with the efficiencies and benefits of blockchains.”
“It was obvious to us immediately the Pelion team shared our vision for the future of blockchains and what would be required to get there,” said Gem Founder and CEO, Micah Winkelspecht. “We’re excited to have Ben and Pelion join the team and help us do something special.”
Gem was founded by Blockchain thought leader, open-source contributor, and community organizer Micah Winkelspecht and launched at TechCrunch Disrupt SF’s Startup Battlefield in 2014. After launching a multisignature API for developers, the company is now working to promote the integration of blockchain technology in finance, healthcare, and other data-reliant industries.
Jeff Parkinson, partner of KEC Ventures said:
“I’m really excited about blockchain ledger systems, and Gem is a great example of a company that’s fully leveraging the potential of that technology to transform the services industry.”
Scott Kriz, CEO of Bitium has also been appointed to Gem’s Board of Directors. Gem has raised $10.4 million in total funding and is based in Venice, CA.
For more information, please visit: https://gem.co
- Graph Blockchain Implements IoT Sensors for the Agriculture and Cannabis Sector - April 23, 2019
- Blocknet Release Beta Version of Multi-Blockchain Router – XRouter - April 23, 2019
- Alt Thirty Six Raises $10 Million In Series A Funding For Cannabis Blockchain Payment Solution - April 23, 2019
- Nine Major Universities to Build Blockchain Solution for Digital Academic Credentials - April 23, 2019
- Blockmason to Launch Blockmason Credit Protocol Token (BCPT) on Binance Chain - April 23, 2019
- Vinny Lingham’s Blockchain Startup Civic Cuts New Deals with a Dozen Retail Partners - April 23, 2019
- 220 Partners at JPMorgan’s Blockchain Project – New Features - April 23, 2019
- SIM Card Swapper: 21-Year-Old Cryptocurrency Thief Gets 10 Years in US Prison - April 23, 2019
- Indian Central Bankers Excludes Cryptocurrency Projects from it’s New Startup Fintech Sandbox - April 19, 2019
- Enterprise Ethereum Alliance Plans to Launch New Token Taxonomy Initiative - April 19, 2019
- Social Blockchain Project BitGive Signs Deal with Uphold - April 19, 2019
- Crypto Wars Continue – Bitcoin’s Self Proclaimed Founder Craig Wright Threatens to Sue Ethereum’s Vitalik Buterin - April 19, 2019
- Gate.io Exchange Releases IEO Startup Platform and Launches First Project with CNNS - April 18, 2019
- Telegram Cuts Deal With Wirecard to Build Blockchain Shared Payment and Banking Solutions For TON - April 17, 2019
- Token-as-a-Service (TaaS) Shuts Down – Distributes Assets to Token Owners - April 17, 2019
- eToroX Launches 8 Stablecoins on New Cryptocurrency Exchange - April 17, 2019
- Powerhouse Production Company Endemol Shine International Partners with Blockchain Startup BitMovio - April 17, 2019
- Huobi Prime’s Second EO Launch – Two Billion NEW Tokens Sold in Six Seconds - April 17, 2019
- Panxora safeguards ICO assets with crypto treasury management service - April 17, 2019
- Turing Award Winner and MIT Cryptographer, Dr. Silvio Micali, Publicly Opens TestNet at VC-backed Algorand Blockchain - April 16, 2019