France-based blockchain development platform, Stratumn followed its FinDEVr New York debut last month with news of a £600,000 ($670,000 USD) investment. Led by Otium Venture, the seed round also featured participation from Ledger CEO, Eric Larchevêque, who said Stratumn’s platform would “open up many opportunities for enterprise business process management.”
The fresh capital will be used to increase headcount to 12 employees, as well as finish work on its open standard technology, Chainscript, that builds audit chains for workflows. The funds will also help the company complete its blockchain notary solution, “Fossilizer.” The investment also represents the first successful French fundraising for a bitcoin company.
Pictured: Stratumn CEO Richard Caetano presenting his Chainscript technology and the Stratumn Blockchain Development Platform at FinDEVr New York.
Stratum’s platform enables developers to write, execute, and test complex workflows and business processes using the blockchain, and then provides them with the infrastructure and tools they need to deploy and run these applications. Stratum uses Chainscript, an open JSON specification, to describe each step of the process and provide cryptographically verification. The platform also provides “proof-of-existence” of critical data, notarizing it in the blockchain.
Founded in 2015 and headquartered in Paris, Stratumn made its FinDEVr debut at our New York conference in March. CEO Richard Caetano discussed “Building and Securing Smart Workflow Using Chainscript and the Stratumn Blockchain Development Platform.”