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
- MIT Professor Silvio Micali’s Algorand Project Announces Date for First Auction - June 6, 2019
- SEC sues Canadian Messaging Service Kik Selling Unregistered Securities in its $100 million ICO - June 4, 2019
- CrowdEngine Teams Up With Polymath Adding Security Token Issuance to List of Crowdfunding Services - June 3, 2019
- Bitcoin Inc. CEO Morgan Rockcoon Busted – 21 Months in Prison and Fines - June 3, 2019
- Reshaping a Nation’s Logistics Sector: Singaporean Blockchain Company PLMP Cuts Multimillion Dollar Deal With Indonesia - June 3, 2019
- Swisscom TV Opens Blockchain-based Art Gallery - June 3, 2019
- Canadian Messaging Service Kik Burns $5 Million Fighting SEC Over Utility Tokens, Now Raising $5 Million More to Continue Battle - June 3, 2019
- Salesforce Introduces CRM Blockchain Platform For Selected Clients - June 3, 2019
- Block.one Plans to Tackle Pitfalls of Social Media With New Blockchain Community Called “Voice” - June 3, 2019
- CasperLabs and Ethereum on Proof of Stake Protocol at CryptoChicks in Toronto, family ran Hack-A-Thon for blockchain family - June 3, 2019
- World Economic Forum Inaugurates Global Blockchain Council to Address Lack of Well-Defined Rules for Working with Blockchain - May 29, 2019
- India’s First Blockchain Powered VoD Platform ‘myNK’ Launches At Cannes Film Festival - May 27, 2019
- New Zealand’s Cryptopia Exchange Packs It In – Announces Liquidation - May 15, 2019
- Canadian Blockchain Expert Alex Tapscott and NextBlock Global Limited to Pay $1M for Misleading Investors - May 15, 2019
- ObEN Launches AI Newscaster With 3D “Satoshi” Avatar to Deliver Content via PAI News App - May 14, 2019
- Leading Freelance Platform Moonlighting Announces First Blockchain Integration Partner – Teams with HireVibes For EOSIO Solution - May 14, 2019
- Polish-UK Blockchain Company Billon awarded €2 million euro from EU to build DLT Document System - May 14, 2019
- City of Belfast and Colu Team up to Create City Loyalty Token to Boost Local Economy and Environment - May 8, 2019
- Fidelity Investments – to Launch Cryptocurrency Trading Desk Soon – Recent Report Shows Clients Want To Trade Digital Assets - May 8, 2019
- Consensys Accelerates Blockchain Investment Portfolio, Consolidates Investment Arms - May 8, 2019