Spherity, a Berlin, Germany-based decentralized identity and digital twin company, received a seed financing round of undisclosed amount.
The round was led by High-Tech Gründerfonds.
The company intends to use the funds to accelerate the development of its core platform to provide interoperable and blockchain-agnostic identity service offerings and extend existing strategic relationships with its customers.
Founded by Dr. Carsten Stöcker und Dr. Michael Rüther in November 2017, Spherity develops decentralized identity management solutions for industrial IoT applications, which assign unique digital identities to companies, machines, intelligent devices and algorithms. The so-called digital twins of these entities sign all transactions and their connected data in the digital world cryptographically. This guarantees authenticity and data exchange in complex business processes and value chains.
Proven use cases of the technology include mobility, supply chain, or pharmaceutical industries.
The company employs currently 11 people.