Stratumn, a Paris, France-based provider of network solutions securing processes between enterprises and their stakeholders through blockchain technology and advanced cryptography, raised €1m as part of its extended Series A funding.
The investment was made by C. Entrepreneurs, the venture capital fund created by the insurer BNP Paribas Cardif in partnership with Cathay Innovation.
The whole funding round totals €8M with backers including Open CNP, Otium Venture, Nasdaq and Digital Currency Group.
The company intends to use the funds for business development and product design as well as hiring talented individuals.
Founded in Paris in 2015 by Richard Caetano, an American entrepreneur, Stephane Florquin and Sebastien Couture, Stratumn has developed a technology based on blockchain networks and cryptography to secure processes between enterprise partners, customers, and regulators while insuring data privacy and reducing operational frictions and costs. The company has already developed more than ten projects with large companies in the insurance, financial and supply chain fields.