BigchainDB, the scalable blockchain database provider for developers and enterprise, announced today it has raised a €3 million Series A investment. Earlybird Venture Capital, Anthemis Group, Digital Currency Group and innogy SE participated in the round, united in their commitment to bring blockchain technology to market.
BigchainDB meets the needs of enterprise with a high-throughput blockchain database that can handle hundreds of thousands of transactions per second and a versatile built-in crypto-condition framework. This framework allows release-of-assets business logic to be automated on a blockchain database, paving the way for real-time payments, machine-to-machine commerce and interoperability with other blockchains and platforms such as Ethereum, Eris, Hyperledger and R3.
BigchainDB is currently supporting proof-of-concepts for enterprise use cases in financial services, supply chain, energy, IoT and intellectual property. With this investment BigchainDB will also continue to work with popular NoSQL databases to "blockchain-ify" their offerings so that enterprise customers can more easily adopt blockchain technology into their legacy systems and processes.
"We're thrilled to have a slate of top-notch investors on-board to help us grow the business," says Bruce Pon, CEO of BigchainDB. "We're eager to deliver successful proof of concepts for our clients so that they can bring blockchain technology into production more quickly than they believed possible."
"Blockchain technologies have enormous potential to increase transparency in business and give people more power to manage and control their assets," said Ciaran O'Leary, Earlybird Venture Capital board member. "BigchainDB is building an essential component for a decentralized storage that everyone will need to enable the multitude of use cases that are being tested."
"As one of the first investment firms dedicated to digitally native financial services, we have been watching the cryptocurrency and blockchain space since its inception," said Yann Ranchere, Partner at Anthemis Group. "We believe BigchainDB's solutions are poised to support the potential of distributed applications by providing a much-needed layer of interoperability in the stack to make blockchain based solutions faster and easier for enterprises and startups to implement."
About BigchainDB
BigchainDB allows developers and enterprise to deploy blockchain proof-of-concepts, platforms and applications with a scalable blockchain database. BigchainDB targets a wide range of industries and use cases from identity and intellectual property to supply chains, energy, IoT and financial ecosystems. With high throughput, sub-second latency and powerful functionality to automate business processes, BigchainDB looks, acts and feels like a database but has the core blockchain characteristics that enterprises want.
