PeerNova Inc., a San Jose, California-based developer of a distributed trust system based on Blockchain technologies, closed the first tranche of its Series A equity and debt funding round of $8.6m.
The round was led by Mosiak Partners with participation from angel investor Steve Case, Ashar Aziz (Founder and CTO of FireEye), venture capital veteran Pierre Lamond, Atiq Raza (CEO of CALIENT technologies), Crypto Currency Partners and others. As part of the investment, Miles Kilburn of Mosaik Partners will be joining PeerNova’s Board of Directors.
The company intends to use the funds to invest in research and development, accelerate the launch of its Software as a Service (SaaS) platform and expand its service delivery capabilities by growing sales, marketing and support teams.
Led by Dr. Naveed Sherwani, CEO, PeerNova develops distributed trust systems based on Blockchain technologies.
It plans to launch multiple applications in 2015. The company is working on two categories of applications: registry and transmit/exchange applications. Registry applications enable the decentralized storage of records or assets of value. Transmit/exchange application enables the secure movement of digital assets around the world. These digital assets can be currency, loyalty programs, coupons, medical records, DNA or any single asset of value.