Chronicled, Inc., a San Francisco, CA-based provider of enterprise blockchain-powered supply chain ecosystems with automation, and privacy, raised $16m in Series A funding.
The round was led by Mandra Capital, with participation from Streamlined Ventures, The Perkins Fund, Frank Fiore, and David Aho.
Chronicled is a software technology company leveraging blockchain to bring efficiency, and automation to global supply chains. The company has developed tools and protocols to enable decentralized blockchain networks that support multi-party supply chain ecosystems. The decentralized network architecture extends trust boundaries and enforces cross-organization business rules without revealing private data.
Chronicled is currently piloting the MediLedger Network with a group of major companies, including manufacturers, distributors, and solution providers, and it plans to launch the network commercially in 2019.
The company intends to use the funds for expansion of the MediLedger Network with service provider integrations and additional protocols that address channel integrity and chargebacks, contracting, and revenue management.
As part of its growth plans, Chronicled is opening a development office in Vancouver, BC.
The company currently employs 50 personnel and plans to add approximately 20 employees over the next year, targeting both its San Francisco and Vancouver locations. It is a founding member of Enterprise Ethereum Alliance, Trusted IoT Alliance, and Mobility Open Blockchain Initiative and has an active presence in Pharmaceuticals and Precious Metals and Minerals industries.