Nivaura Blockchain Startup Raises $20 Million
Nivaura, a blockchain startup working with capital markets, managed to raise $20 million following the results of an additional third financing stage. The London Stock Exchange (LSEG) led the investment round, CoinDesk reports.
Apart from the London exchange, the venture capital firm Santander InnoVentures, several law firms, Transamerica Ventures (the investment division of Aegon), and other institutions participated in the financing.
Nivaura organized the first funding round in the fall of 2017, then in January 2018, it was extended. Representatives of the blockchain startup do not share the details and only report that most of the investments were attracted during the last stage.
The received funds are supposed to be spent on increasing the staff that will be involved in all areas of activity. Moreover, the company intends to expand its work to the markets of the United States and Asian countries, as well as conduct research work.
In the fall of 2017, the startup issued first bonds on the basis of Ethereum as an experiment. All transactions with these financial assets were recorded on blockchain. Nivaura tried to figure out whether this tool could be popular with small businesses.
Currently, the startup seeks to apply distributed ledger technology to automate all processes related to financial instruments, including stocks, bonds, and derivatives.
As previously reported, Pantera Capital will open a $175 million fund for blockchain projects.