Fluree announces seed extension funding round for blockchain-based data management

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North Carolina-based database management firm Fluree has announced a seed extension funding round led by independent venture capital company Engage.

The latest investment, which follows a $4.7 million seed funding round in June, allows Fluree to expand its enterprise data management platform, which acts as the foundation for emerging online architectures that include AI, microservices, machine learning, the semantic web and consortium blockchains. The platform is used by tech startups, government agencies, and Fortune 500 enterprises for sharing, securing and building services upon high-quality, trusted data.

Fluree also recently announced a strategic blockchain deployment with the United States Air Force.

Brian Platz, co-CEO and co-founder of Fluree, said: “Organisations have been striving to secure a data-first approach for nearly a decade, and Fluree finally brings that vision to life. As the semantic web continues to dissolve data silos and build a new framework for harnessing the value of information, Fluree is becoming the backend to power that change.

“In Engage, we have the ideal partners to continue our strategic enterprise expansion and further catalyse the next phase of the web,” added Platz.

Despite the uncertain climate blockchain-based funding activities continue to take place. Last month, Taiwanese blockchain security firm CoolBitX secured $16.75m in series B funding that will be used to expand the presence of its Sygna product range beyond APAC. Sygna is CoolBitX’s first-to-market FATF-compliant solution for virtual asset service providers (VASPs) around the world. The company will continue to innovate and develop its flagship product CoolWallet S, which is a Bluetooth-enabled hardware wallet for cryptocurrencies. California-based Paystand also raised $20m in series B funding that will help the cloud-based PaaS payment network to expand its sales, marketing, success, and engineering teams at its California and Mexico offices.

Photo by Michael Longmire on Unsplash

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