Poland-based DoxyChain, which aims to fix traditional document management, has raised €2.2m from international investors to support its growth.
Level2 Ventures served as the lead investor, with commitments also coming from CV VC, Polish Satus Starter, and a German family group of companies: Müller Medien.
Capital from the round will help DoxyChain bolster its product development, hire more staff and expand across the European and US markets.
DoxyChain’s mission is to become the best global infrastructure for documents, combining traditional front ends with web 3.0 features.
DoxyChain CTO and co-founder Piotr Żelazko said, “We are now launching two new SaaS features. Working on our SaaS layer, we have observed that the scope of the use-cases is so broad that we cannot cover them all one by one. Instead, we can do better: we can build a modular infrastructure that allows our clients to develop their own tailored advanced workflows and use cases on top of it. Such an infrastructure will be our Seed milestone.”
In October, the document management company will launch DoxyCert and DoxyConnect. The former is a toolkit that allows clients to issue blockchain certificates, also as NFTs, which will be used as undeniable proof of authenticity or ownership.
DoxyConnect will serve like a data room. It is built on the blockchain and lets the parties of a document exchange transact in a secure and easy way.
Speaking on the investment, Level2 Ventures fund co-founder Adam Rudowski said, “The main economic value relies on process automation with smart contracts. Instead of building costly blockchain foundations software developers will focus on improving processes and user interfaces, leaving entire decentralisation and automation to DoxyChain.
“Level2 Ventures is one of the first investors in the company. We strongly believe in the competencies of the management team and the technology they have created.”
Another Poland-based FinTech company to recently raise capital was Symmetrical.ai, which scored $18.5m in funding. The company claims to be the first global provider of headless payroll technology that supports unparalleled automation of payroll processes through flexible API-first technology.
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