Everledger, a London, UK-based developer of real-world applications based on emerging technologies, closed US$10.4m in Series A funding round.
Toronto-based investment banking firm GMP Securities co-ordinated the round with lead investor, the Canadian arm of Fidelity Investments. Participants in the round included Vickers Ventures Partners Graphene Venture Capital, and existing investors FPV, Fenbushi, Bloomberg Beta and Rakuten. In conjunction with the funding, Dr. Finian Tan, currently the chairman of Vickers Venture Partners, joined Everledger’s Board.
The company will use the funds to continue to develop its platform and expand its business reach.
Led by Founder & CEO Leanne Kemp, Everledger is a technology enterprise that tracks the provenance of high-value assets on a global digital ledger. Using blockchain, the company provides stakeholders across supply chains with an immutable history of an asset’s authenticity, existence and ownership. Everledger started off with tracking diamonds and currently has the provenance of over 2 million diamonds cryptographically-certified on the blockchain. This tech solution has since expanded into the world of coloured gemstones, jewellery, fine wine and art, among other industries.
The company has a team of 40 members across five countries, with further expansion to around 100 employees over the next two years. This new round of financing coincides with the opening of a new Mumbai-based office, in addition to entry into China.