SEOUL, South Korea, June 11, 2018 /PRNewswire/ -- South Korea-based blockchain technology company Blocko has raised $8.9 million in its latest round Series B, securing its total fund raised to $14 million, and added new investors including SparkLabs Ventures, POSCO, and Premier Partners on board. The latest round included existing investors Samsung Venture Investment, Daesung Private Equity, and Wonik Investment Partners.
Blocko plans to use the new funds to further strengthen its presence in Korea as well as in Europe and East Asian markets. The company will also be launching its ecosystem project Aergo, expanding on existing efforts to collaborate with open source communities to foster the growth of open-source blockchain ecosystems, leveraging its proprietary enterprise blockchain platform, Coinstack.
"It has been three years since Blocko was found and laid the foundation for the World's first battle-tested blockchain. We have made significant progress in enterprise blockchain market through which we have gained significant competitive advantages today," said Won Beom Kim, the CEO and Founder of Blocko. "We will further expand our presence into new markets and collaborate with industry, academia, and open-source communities to foster the growth of blockchain technology."
Blocko is an enterprise blockchain platform provider, specialized in general purpose blockchain platform, blockchain-based application, and blockchain consulting services. Its proprietary platform, Coinstack, provides essential functions for enterprise blockchain. Blocko has successfully established blockchain-based services with the many of the financial institutes including the Korea Exchange, Credit Suisse and conglomerates including Hyundai Motors, Lotte Card and many more.