Applied Blockchain startup supported by Shell raises £ 2M

Adi Ben-Ari – CEO-founder of Applied Blockchain

Applied Blockchain, a young London shoot specializing in blockchain, collected £ 2 million to accelerate its development by Asia.

Hong Kong venture capital company QBN Capital just completed a funding round (seed round) of £ 2 million, or around 2.29 million euros, for Applied Blockchain.

Founded in London in 2016, the startup had previously raised funds (amount not disclosed) from Shell Trading International, Calibrate Management and Momentum London.

Read also : Aztec Launches Ethereum Privacy Protocol

It develops blockchain solutions for companies aiming to improve the security and the confidentiality of data and was notably selected by the oil giant Shell to build a distributed platform for trading energy derivatives.

Governments, businesses and individuals are increasingly concerned about the privacy and data security. We believe that zero knowledge proofs offer a new and better way to share and manage data. We are very happy to support Applied Blockchain, a pioneer in this field, ” said Philea Chim, partner at QBN Capital in a press release.

Applied Blockchain Currently works with companies from various industries such as energy, shipping, automotive, telecommunications and financial services.

Its founder and manager Adi Ben-Ari plan to use the funding to accelerate the development of the company on the asian market.