BlockApps secures series A funding to grow blockchain for industry business networks

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BlockApps, a New York-based startup, has announced the successful completion of its series A funding round to focus its mission on providing an enterprise-grade blockchain platform.

The funding round was led by Fitz Gate Ventures, with participation from Elliptic Curve Ventures, Bloccelerate, Fenbushi Capital and Galaxy Digital Ventures, as well as a follow-on investment from ConsenSys.

BlockApps aims to help industries create blockchain-based business networks. The company is already working with Fortune 500 organisations such as Bayer, BHP Billiton, John Hancock, and United Airlines. The company will use the raised funds in the healthcare, energy, agriculture, and travel industries where it has already launched its networks. The money will also be utilised to expand to other verticals.

In early September, Colorado-based blockchain firm Dapix raised £4.63m in series A funding round led by Binance Labs. Dapix, which empowers the blockchain ecosystem with revolutionary inter-wallet usability, was responsible at the initial development stage of the FIO Protocol, which is an industry-based, decentralised service layer that improves usability across every blockchain, token or coin. In due course, the Protocol would be guided by the Foundation for Interwallet Operability, a consortium of leading wallets, exchanges, and cryptocurrency payment processors.

Additionally, Lithuania’s DappRadar secured £1.89m in a seed-funding round led by South African multinational media and internet group Naspers. The round, led through Naspers Ventures, was also accompanied by Blockchain.com Ventures and Angel Invest Berlin. DappRadar will be using the accumulated funds mainly for R&D, developing new functionality to help the business expand its service and reach the next stage in its growth. The platform tracks more than 2,500 dapps across seven blockchains and filters data to remove false and irrelevant activity and provide trustworthy, actionable market intelligence.

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AE Ventures, an investment firm supporting blockchain projects, has announced its investments in startups have reached $1.5 million – and is looking for more firms to bootstrap.

The company has been investing in blockchain-based startups since its launch in 2018. The firm also announced it is accepting applications for the third edition of its Starfleet Accelerator program that offers members mentorship and investment opportunities up to $100,000 (£81,299).

The third edition programme will start with Genesis Week — a period where participating startups receive access to mentorship and support in areas, such as business models, token economics, blockchain infrastructure, and æternity apps architecture, from industry experts. This version of the programme will also be a part of an on-going cooperation with Microsoft Innovation Centre Malta, which will be the host of all Starfleet activities. The participating teams can partake on-site either in Malta or remotely through a constant-live stream.

The Starfleet Accelerator Program will begin in early November 2019 in Malta, with a 2020 date pencilled in for India.

Earlier this month, Lithuania’s DappRadar secured £1.89m in a seed-funding round by South Africa’s Naspers. DappRadar will be using the accumulated funds mainly for R&D, developing new functionality to help the business expand its service and reach the next stage in its growth. In the same week, Colorado’s Dapix raised £4.63m in series A funding round led by Binance Labs. The consortium continues to grow every month as more and more of the ecosystem is supporting the FIO Protocol as an industry-wide standard.