Today, UK-based technology company announced the completion of its $20 million Series A funding round.
The startup is setting out to increase transparency in supply chains using聽blockchain technology, enhancing value to consumers and reducing risks for businesses across the industry.
This round of funding saw baking from China鈥檚 leading internet-based services provider; Tencent Holdings Ltd. Everledger also saw participation from Graphene Ventures, Bloomberg Beta, Rakuten, Fidelity and Vickers Venture Partners.
Everledger was set up to create more clarity and confidence in the marketplaces where transparency is imperative. This clarity allows for more knowledge and sustainable business practices, and Everledge allows information to surfaced in an unprecedented way.
Leanne Kemp, founder and CEO of Everledger, said: 鈥淭oday鈥檚 announcement amplifies our commitment to global markets, whilst fuelling our industry momentum as we continue to build Everledger. Having this strong investor cohort join us at this stage in our development is both validation of the innovation we鈥檝e displayed to date, and a statement of future intent. They will support us in bringing more visibility to good business practices in industries that impact millions, if not billions of people in developing countries.”
鈥淲e are delighted to support Everledger to improve the transparency and sustainability of global supply chains.鈥� said James Mitchell, Chief Strategy Officer at Tencent.
鈥淓verledger is very well positioned to increase transparency in supply chains鈥�, said Nabil Borhanu, Managing Partner at Graphene Ventures.
鈥淭his investment marks an incredibly exciting addition to our cohort of talented technology organisations, such as Lyft and Snapchat, and an important step towards more sustainable practices in complex supply chains.鈥�
Lauren Kemp added: 鈥淓verledger and Tencent are a natural fit. We share strategic synergies including several solutions that are part of their ecosystem.
鈥�In particular, we are excited to see how this new partnership with Tencent will help to strengthen and extend our developments in China and contribute to other potential partnerships.
