During the last couple of months, a good number of startups have witnessed massive growth as a direct response to the investments they managed to secure. Stratumn may be another one of those startups, recently securing a €600,000 investment.
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Stratumn secures €600,000 investment
Recently, Stratumn, a blockchain developer platform has managed to raise a total of 600,000 euros following a fundraising round led by the French VC firm Otium Venture, but also the CEO of Ledger, Eric Larchevêque. This round will enable the company to increase its team from 5 to 12 members this year while also establishing their position as a leading provider of Blockchain services and solutions in France and Europe.
What makes this fundraising story more interesting is the fact that Stratumn is the first blockchain startup to successfully raise funds in France, which was chosen as the place of birth for the company, thanks to its dynamic tech startup ecosystem.
To put things better into perspective, the Paris-based company started in 2015, aims to provide enterprise-grade tools which developers can use to further leverage the features offered by permissioned and public blockchain, directly into their applications. Some of these features include the blockchain secure datasets, workflows, and smart contracts. By leveraging these services, developers will be able to work together with more efficiency, without having to depend on third party auditors and regulators. In return, this also helps developers offer irrefutable proof-of-existence documents, and secure digital asset issuance. The platform is offered as a PaaS model, which is a cloud computing model that successfully delivers applications via the Internet.
In a recent press statement, California-born software designer Richard Caetano, the CEO of Stratumn stated that: “The fertility of the French tech startup scene, the quality of engineers and the support of public institutions, make France an ideal place to build a startup.”
Larchevêque, the CEO of Ledger mentioned that: “Stratumn offers a robust Blockchain development product, a first for the French market. Their PaaS platform opens up many opportunities for enterprise business process management.”
Currently, developers who wish to start integrating the Stratumn API into their apps can visit the company’s website and request an invitation.
Based on everything that has been outlined so far, what do you personally think about the €600,000 investment made into Stratumn? Will the company turn out to be a good example for other blockchain startups in the French fintech ecosystem? Let us know your thoughts in the comment section below!
Images courtesy of Shutterstock, Stratumn