5 startups from blockchain incubator LongHash raise $9.7m

Global blockchain incubator LongHash, backed by the Singapore government, said its first batch of blockchain startups have raised a total of US$9.7 million, following its 12-week program that ran from January to March.

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The LongHash Hatch incubation program is aimed at providing blockchain startups with seed funding and venture building support. The first run concluded with a demo tour across Singapore, Shanghai, and Berlin, according to a statement.

Here are the five startups that participated in the program:

• Poseidon Network is a Taiwan-based project that enables its users to monetize underutilized bandwidth and storage from any desktop, mobile, or network-attached storage device.
• T-RECs.ai is a Singapore-based project that helps enterprises and households go green by purchasing Renewable Energy Certificates from any solar generator globally.
• AlphaWallet enables companies to quickly build and launch their blockchain applications or services around tokenized assets.
• Keyless is developing a platform that combines biometrics technology with a portable infrastructure for identity to ensure data privacy.
• Lition is a Germany-based project developing scalable public-private blockchain with deletable features for commercial products in mass markets.

LongHash said it’s currently running its second batch, which goes from June to August. It is in partnership with Parity Technologies to support the development of Polkadot, a blockchain protocol that allows independent blockchain networks to communicate.

The incubator also recently announced the recruitment for its third batch, which will be in partnership with blockchain platform Zilliqa. Projects in this batch will be guaranteed US$20,000 in grants, according to a statement. Successful applicants will be notified by August 30, 2019.