StrongBlock, a Cayman Islands-based Magnetic Capital incubated startup, has bagged USD4 million in a seed funding round that will help the company to launch Enterprise Blockchain technology. The funding round was led by Pangea Blockchain Fund, with its limited partners including Copernicus Asset Management. Unlike other Enterprise Blockchain projects most of them have failed to date due to insufficient Blockchain protocols and lack of expertise in executives, StrongBlock’s Blockchain technology links the wire between the technological requirements of enterprises and the current state of Blockchain protocols.
Seated in the Cayman Islands with operations in Southern California, StrongBlock assists to ensure that enterprises can securely incorporate Blockchain solutions with legacy systems without wasting time and money trying to develop proprietary infrastructures. StrongBlock Founder and CEO, David Moss said that Enterprises already know they have certain problems that the only blockchain can solve, notably in the supply chain, product provenance, healthcare, and finance. With StrongBlock, businesses can actually implement solutions. In a statement, Co-founder of Blockchain Investment Advisory Sagl, Pangea Blockchain Fund’s Swiss-based investment adviser, James Duplessie stated that we chose StrongBlock as Pangea’s first investment, as it aligns with our investment approach: utilizing blockchain technology to change underlying systems that power the things we do every day. He further said that StrongBlock’s seasoned management team’s deep technical expertise will allow the company to not only lead the market but define it.
StrongBlock aims to empower enterprises to focus resources on deploying Blockchain to solve business problems. The company leverages EOSIO, a next-gen, open-source Blockchain protocol which offers a combination of better-quality performance and features required by today’s global businesses, like account management, security, and governance.