(qlmbusinessnews.com via coindesk.com — Thur, 2nd Aug 2021) London, Uk – –
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The blockchain firm with multiple U.S. military contracts said it is dedicating resources to “emerging enterprise level opportunities such as non-fungible tokens.”
Blockchain-as-a-service firm SIMBA Chain has closed a $25 million Series A funding round led by Valley Capital Partners, the firm announced Thursday.
- Indiana-based SIMBA Chain said the funding will be used to grow the firm’s sales and marketing departments, as well as to “dedicate resources to emerging enterprise level opportunities such as non-fungible tokens.”
- Other participating investors included Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund, the founders of Lightspeed Venture Partners and New Enterprise Associates.
- In January, SIMBA Chain announced it had been awarded a $1.5 million contract from the U.S. Office of Navy Research to build a blockchain system to help ensure a ready supply of military weaponry.
- SIMBA’s technology is currently used by the U.S. Air Force, Army, Navy and Marines, as well as Boeing and other businesses, for a wide range of commercial applications.
- The company said it expects academic institutions and more businesses to use its software to manage their digital and physical assets.
By Tanzeel Akhtar
