Data Gumbo Raises $6M in Series A Funding

data gumboData Gumbo Corp., a Houston, TX-based technology company that has developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, completed a $6M Series A equity funding.

The round, which brought Data Gumbo’s total funding to $9.3m, was co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s energy operator.

The company intends to use the capital to expand its commercial blockchain network, grow the technical, sales and marketing teams at their Houston headquarters and office in Stavanger, Norway.

Led by Andrew Bruce, Chief Executive Officer, Data Gumbo is a Blockchain-as-a-Service (BaaS) company creating a massively interconnected blockchain network for industrial companies, including oil and gas, to eliminate the differences in interpretation of data, when it comes to payments, filings and audits, which bring to delays and disputes, by facilitating automated calculation, reconciliation and payment of invoice line items in near real time with total transparency.



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