Deepbridge Capital has led a £2.5m Series A completed by Chainvine, a company operating in the distributed ledger space.
The company works with clients to integrate their existing ledger systems into a customised blockchain-based platform in a bid to help them manage their supply chain and contract data more effectively.
Chainvine says it will use the cash to grow its client base and commercialise some of its products.
As a result of the investment, Kieran O’Gorman, technical partner at Deepbridge Capital, will join Chainvine’s board.
Oliver Oram, founder and CEO of Chainvine said: “We’re very excited to be working with Deepbridge. Their significant expertise will prove invaluable as we commercialise and scale our business.
“We truly believe that Distributed Ledger Technologies have the potential to change the way businesses operate. The technology allows for unparalleled levels of transparency and efficiency that will allow companies to operate truly sustainably,” Oram added.
O’Gorman went on to comment on the investment.
“At Deepbridge, we invest in impressive teams, which have the skills and technical knowledge to create globally scalable products, and we believe Chainvine and its novel use of Distributed Ledger Technology meets these vital criteria,” he said, adding:
“We look forward to working in partnership with Chainvine during its continued development and commercialisation.”