Blockchain Startup Factom Raises $8 Million in Extended Series A

Blockchain startup Factom has completed elevating simply over $8m as a part of an prolonged Series A spherical.

Last October, the agency mentioned that it had raised $4.2m as a part of the funding in an effort to lift capital forward of deliberate product launches. Taking half in the spherical, based on AustinInno, embrace Harvest Equity and Peeli Ventures, together with a number of as-yet-unnamed native buyers.

According to public records from the US Securities and Exchange Commission, Factom raised roughly $eight,027,535 through the spherical.

Previously, the agency – which makes use of its personal blockchain community to confirm the the integrity of information – had raised $1.1m in a crowdsale carried out in mid-2015, earlier than occurring to raise about $400,000 in seed funding later that yr.

Yet since its launch, the undertaking has attracted its share of criticism, centered primarily at its crowdsale of a publicly traded token (generally known as factoids), in addition to a headline-grabbing – however finally stalled – effort to companion with the federal government of Honduras.

In latest months, the corporate has moved to launch a brand new mortgage-focused product, dubbed Harmony.

Miniature coin stack picture by way of Shutterstock