Trustology, a London, UK-based provider of a platform for securing digital assets, raised $8m in seed funding.
The round was led by Two Sigma Ventures, with participation from ConsenSys, the global blockchain company founded by Ethereum Co-founder Joseph Lubin. Both investors will be joining Trustology’s board of directors.
The company intends to use the funds to develop new capabilities like smart accounts with programmable controls, support additional asset classes and expand its operations internationally.
Led by Alex Batlin, Founder and CEO, Trustology is developing technology and services to help private and institutional clients secure digital assets. Their first product, TrustVault, combines private key protection against cyber and physical threats with low latency execution, by safekeeping private keys and control code inside tamper proof, programmable hardware security modules hosted in secure data centres, with encrypted backups in the cloud.
Batlin formerly led blockchain innovation work at UBS AG and BNY Mellon and was a founding member of the Enterprise Ethereum Alliance, Trusted IoT Alliance, Utility Settlement Coin and R3 consortium. Other founders include former executives from ADIA, Bank of America Merrill Lynch, Barclays, BNY Mellon, Curve, Deutsche Bank, Goldman Sachs, RBS, Starling Bank, and UBS.
The company is currently onboarding selected beta clients.