Posted by AdviserDirect on 03/01/2019

UK blockchain startup raises $20m

UK blockchain startup raises $20m

Capital markets blockchain startup Nivaura has raised a total of $20 million with the closing of its second seed extension round led by the London Stock Exchange Group (LSEG).

Announced today, other investors in the latest round include Santander InnoVentures, the Spanish bank’s VC arm; law firms Linklaters and Orrick; Transamerica Ventures, part of pensions and asset management giant Aegon; MiddleGame Ventures; Digital Currency Group; and Spencer Lake, formerly head of global markets at HSBC.

Nivaura closed the original seed round in October 2017 and the first extension round in January 2018. The firm did not provide a breakdown of the three rounds but said the one that just closed was “significantly larger than the preceding two,” meaning most of the $20 million is freshly raised. The proceeds will be used to increase headcount “significantly across all areas” (including hires in machine learning and natural language processing), to expand into the U.S. and Asia, and to invest in further R&D, the firm said. 

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