Blockchain Startup Stratumn Makes Inroads in France

By April 11, 2016Bitcoin Business

Paris-based Stratumn, a blockchain developer platform that provides enterprise-grade tools for developers to leverage the features of public and permissioned blockchains into their applications has raised €600,000 in seed funding recently. The funding is a first of its kind for a blockchain startup in France.

In a round led by French VC firm Otium Venture and other investors including hardware bitcoin wallet Ledger’s CEO Eric Larchevêque, French blockchain startup Stratumn raised €600,000 in seed funding.

The Platform-as-a-Service (PaaS) model startup leverages public blockchains’ features such as the Bitcoin blockchain with its toolkit for enterprise developers.

With a new open standard called “Chainscript”, Stratumn has developed a platform that enables the recording of data and workflows, using the Bitcoin blockchain’s ability to store objective and verifiable proof-of-existence of data.

Stratumn was founded by Richard Caetano, developer of Bitcoin ticker app btcReport and Stephan Florquin, the former lead developer at French bitcoin exchange Paymium.

Speaking to CCN, Stratumn CEO Richard Caetano revealed that the startup is currently deploying proof-of-concept solutions for the healthcare and banking industries.

What will the newly raised funds be used for?

We’ve raised our seed round to grow our team to build and deploy our platform and proof of concepts in real world applications. From this work, we will bring the results back into the product to ensure a tight market fit. With a proven market fit, we plan to raise a Series A round this summer. What are the kinds of industries that have signed up for blockchain-based solutions? Currently, we are deploying proof of concepts to demonstrate the technology in the banking and health care. Within banking, we’re leveraging objective proof from the blockchain to improve the KYC and compliance processes, and in health care, to secure clinical trials data as it’s shared between research labs, doctors, and scientists. […]

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