Ookami acquires 18% stake in Brontech

Ookami, which looks to foster the blockchain and security ecosystem, has acquired a strategic stake into big data platform Brontech.

The firm will gain an 18.23 per cent stake into the company for AUDS $933,240 ($702,832) and is part of a AUD $1m capital raise facilitated by Cadmon Advisory.

Sydney-based Brontech is a data management and digital identity platform that collects data from users directly. The solution is built on blockchain technology and incentivises consumers to provide their personal data through an exchange of Bron, which is the platform’s cryptocurrency.

For businesses, Brontech provides unique data products which can be used for advanced analytics and market research.

Ookami is looking to develop the ecosystem for smart contracts, blockchain, identity management, KYC and AML, data analytics, cryptocurrency and security applications.

Through this new partnership, Ookami will integrate Brontech’s technology with its Akela Platform, a financial services software developer. Akela will be able to utilise the blockchain solution to further improve its own KYC/AML offerings, allowing easy verification of bank accounts, social media and other data sets.

Following the investment, Brontech founder and CEO Emma Poposka will join Ookami’s board as a non-executive director.

Last year, the blockchain sector was dominated by the North American market, with the region seeing 57 per cent of the total capital. Across the year, no Australian blockchain solution saw a disclosed investment.

Copyright © 2017 FinTech Global

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