Blockchain-powered enterprise and stakeholder network solution Stratumn has received an extension to its Series A from BNP Paribas’ investment arm C. Entrepreneurs.
This line of capital brings the total raised in the company’s Series A to €8m, with the company securing €7m in the summer. The initial wave of capital saw commitments from Open CNP, Otium Venture, Nasdaq and Digital Currency Group. The company raised a $670,000 seed round last year.
Paris-based Stratumn utilises blockchain networks and cryptography to help secure exchanges between enterprise partners, customers and regulators. The platform can stramline communications while ensuring data privacy and lower operating frictions and costs.
C. Entrepreneurs will help Stratumn to increase its business development and product design, as well as hiring new staff members to its international team.
Stratumn co-founder and CEO Richard Caetano said, “We are delighted to welcome BNP Paribas Cardif among our shareholders through C. Entrepreneurs investmentTheir deep expertise in the insurance field will help Stratumn further accelerate the deployment of concrete projects in this field, but also work on the company’s go-to-market strategy thanks to their sound knowledge of distribution networks.”
Last month C. Entrepreneurs took part in Datasine’s €1m seed round. The company uses AI and machine learning capabilities for the financial industry to analyse transaction and biographical data.
The blockchain sector last year was dominated by the North America market, with it representing more than half of the capital deployed. Europe saw the second biggest region for blockchain funding, representing just over a third of the total investments.
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