Tracxn – Analyst Notes # 1083 – Blockchain Applications

A daily newsletter summarizing recent activity & interesting start-ups globally

RECENT NOTABLE ACTIVITY – BLOCKCHAIN APPLICATIONS

• Proof of Existence, a startup focused on decentralized ledgers for storing proof of existence of documents, has been acquired by Bitcoin mining manufacturer Canaan for an undisclosed amount. Link
• Stem Disintermedia, a digital media rights platform, has raised $8M from Evolution Media, Aspect Ventures, Red Light Management, ROAR, and WndrCo. Link
• OpenBazaar, a peer to peer digital marketplace, has raised an additional $200k from Digital Currency Group. This brings their total funding to $4.2M. Link
• R3, a consortium of banks working on digital ledger technology, has raised $107M from investors that include Intel, HSBC and Bank of America Merryl Lynch. The round is one of the largest in the ecosystem. Link
• LedgerX, an institutional trading and clearings platform, has raised $11M from MIAX Options and Huiyin Blockchain Ventures. Link
• RSK Labs, a smart-contract and side chain implementation platform, has raised $3.5M in seed funding. Link
• Coins.ph, a Bitcoin wallet focused company in the Philippines, has raised $5M from Naspers. Link
• Peernova, a cryptographic development platform, has raised $7M from unknown investors. Link
• Basic Attention Token, a cryptocurrency focused on digital content, raised $36 M in under 10 minutes through an initial coin offering. Link
• Patientory, a blockchain based patient storage system, raised $7.2M from 1728 investors through an initial coin offering. Link
• Aragon, a blockchain based solution for organizational management, has raised $25M in 15 minutes from its initial coin offering. Link

SOME INTERESTING STARTUPS FOUND

PocketBits (2017, Nashik) – Indian Bitcoin exchange offering AML/KYC and trade processing in under 60 minutes.
Prism (2017, Zug) – Decentralised cryptocurrency exchange built with smart contract on Ethereum.

LEADER BOARD – BLOCKCHAIN APPLICATIONS

Financial Services
Circle (2013, Boston, $136M) – Digital currency wallet and international money transfer service provider. Backed by Accel Partners, Goldman Sachs, Baidu, General Catalyst Partners, IDG Capital Partners, Oak Investment Partners, CICC, CreditEase, China Everbright, Fenway Summer, Breyer Capital, Pantera Capital, Wanxiang America, Digital Currency Group.
Ripple (2012, SF, $90.5M) – Open source payment protocol. Backed by Standard Chartered, AME Cloud Ventures, Seagate, CME Group, IDG Capital Partners, RRE Ventures, Venture 51, Core VC, ChinaRock Capital Management, SBI Holdings, Route 66 Ventures, Camp One Ventures,Blockchain Capital, Santander InnoVentures, Digital Currency Group, Tusk Ventures, CRCM Venture Capital, SCB Digital Ventures.
Digital Asset Holdings (2014, NYC, $67M) – Blockchain-based trade settlement solution provider. Backed Accenture, IBM, Goldman Sachs, Broadridge Financial Solutions, Citigroup, J.P. Morgan, CME Group, BNP Paribas, ABN AMRO Bank, Australian Securities Exchange, PNC Financial Services Group, Deutsche, DTCC, ICAP, FinTech Innovation Lab, Santander InnoVentures.

Enterprise
Filament Networks (2012, Reno, $36M) – A decentralized Internet of Things stack. Backed by Intel Capital, CME Group, Techstars, Crosslink Capital, Bullpen Capital, Resonant Venture Partners, Amherst Fund, Samsung Venture Investment, Pantera Capital, Detroit Innovate, Bullpen Capital, Verizon Ventures, Flex technology accelerator program Lab IX, Digital Currency Group, Working Lab Capital, Zenstone Venture Capital, VTF Capital, JetBlue Technology Ventures, Backstage Capital, Tappan Hill Ventures, Samsung NEXT.
Stem Disintermedia (2015, Los Angeles, $12.5M) – A digital media rights platform.  Upfront Ventures, Ludlow Ventures, Three Six Zero Group, Red Light Management, ROAR, Third Wave Digital, Aspect Ventures, Evolution Media, Vayner RSE, Blockchain Capital, Third Wave Digital, WndrCo.

Technology
R3 (2013, New York, $107M) – Consortium of financial enterprises aiming to create digital ledger technology.  HSBC Group, UBS, Wells Fargo, Intel Capital, Barclays, Itau BBA, Natixis, Bank of America Merrill Lynch, SBI Group, Banco Bradesco, Temasek Holdings.
Bitfury (2012, San Francisco, $95M) – Provider for Bitcoin mining hardware.   Credit China Holdings, DRW Trading Group, Investment Fund, Crypto Currency Partners, Binary Financial, ZAD, Blockchain Capital, QueensBridge Venture Partners, iTech Capital
Blockstream (2014, SF, $76M) – Provides sidechain solutions to improve blockchain. Backed by Khosla Ventures, AME Cloud Ventures, Innovation Endeavors, Data Collective, Horizons Ventures, Ribbit Capital, Real Ventures, Digital Garage, DG Incubation, SK Ventures, Future Perfect Ventures, Maiden Lane, Mosaic Ventures, Blockchain Capital, Digital Currency Group, AXA Strategic Ventures, Seven Seas Partners.

Consumer
FirstBlood Technologies (2016, Boston, $5.5M) – Blockchain-based eSports platform.
Augur Project (2014, SF, $5M) – Decentralized prediction market based on Blockchain.