In brief: Startup backed by Samsung and Sequoia raises $30m in private token sale

Aergo from Blocko, a Samsung Ventures-funded startup, announced that it has secured US$30 million in a venture funding round to allow businesses to share data through trustless blockchain networks. Blocko supports, develops, and subsequently plans to use the Aergo platform to offer a broader set of enterprise-IT solutions and cloud-based application development capabilities to many existing blockchain clients.

Aergo is an end-to-end, open source-based platform that features customizable high-scale hybrid-blockchain deployments, a serverless cloud architecture, and data bridging technology. Aergo’s architecture will allow enterprises to transfer data without having to trust an intermediary while also being flexibly governed and integrated seamlessly into existing systems.

Source: Blocko

The South Korea-based startup said it will use the funds to release a new public blockchain protocol, expand its research and development teams, launch new applications on the Aergo platform, and strike more partnerships globally.

Investors in the Aergo token sale included Sequoia Capital, Neo, and GBIC, among others.

Blocko, which also develops the Coinstack blockchain infrastructure, raised US$8.9 million in its series B round in June from investors including Samsung Ventures.