Blocko secures $8.9 million in latest investment round

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Blocko secures $8.9 million in latest investment round

Blocko, a Korean blockchain company, raised $8.9 million in its latest Series B funding round, the company said Thursday. With the new investment, the enterprise blockchain platform provider has secured a total of $14 million since its foundation in December 2014.

Investors include Samsung Venture Investment, SparkLabs Ventures and Posco Capital. Blocko plans to use the capital to upgrade its existing blockchain platform for businesses, called Coinstack, and foster open-source projects related to enterprise blockchain.

Coinstack enables firms to easily build enterprise applications using blockchain technology. Applications include secured log-in systems, digital contracts and employee management systems.

According to Blocko, it has successfully established blockchain-based services in partnership with many companies and institutions in Korea including the Korea Exchange, Hyundai Motor and Lotte Card.

By Kim Jee-hee
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