Tierion raises $25m through ICO

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fintech insurtech wealthtech regtech ai cybertech esg news

Blockchain data management platform Tierion has reportedly raised $25m through its ICO, which had an initial closing date of August 10th.

The token sale offered TNT tokens, which can be used to purchase services on the platform, according to various reports by the media.

Tierion is a blockchain platform that verifies any data, file or business process. Uses for the platform include audit trail, document timestamping, IoT data collection & provenance, blockchain verifiable credentials, verifiable data for clinical trials and regulatory compliance and transparency.

With the capital raised, Tierion plans to build its network and technology, as well as cover the costs for linking data to the blockchain, according to the reports.

Last year the company received a $1m seed financing round which was led by Blockchain Capital and Fenbushi.

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