Published on May 15th, 2018 | by bitcoin0
Foxconn Among Backers of Blockchain Identity Startup in $7m Series A Round
Identity startup Cambridge Blockchain has closed a $7 million Series A round led by HCM Capital, the investing arm of the Taiwanese manufacturing giant Foxconn Technology Group.
According to Tuesday’s announcement, Foxconn is “exploring deployments” of software developed by Cambridge Blockchain to improve the management of connected devices and global supply chains.
Other participants in the financing round include Partech Ventures and Digital Currency Group, both of which also invested in Cambridge Blockchain’s $2 million funding round in February 2017.
The funding also marks the latest move by the Foxconn unit in financing startups in the blockchain space.
Matthew Commons, Cambridge Blockchain’s CEO, said of the deal:
“Foxconn’s HCM brings a compelling strategic view of blockchain and digital identity.