Symbiont, a New York-based blockchain startup, revealed that it has successfully raised $20 million through B Series funding, which was led successfully by Nasdaq Ventures.
The company will utilize the funds to hasten its overall growth in the blockchain industry and provide assistance to firms offering financial services. Other top notch investors who have funded the project are such as Galaxy Digital, Citi, and Raptor Group.
Symbiont, established in 2015, is a prominent smart contract platform for institution level blockchain technology applications. Symbiont offers a business-grade blockchain solution called Symbiont Assembly , which can be employed to build networks to share logic and information in real time with multiple independent clients.
The blockchain company has developed the solution specifically to match institutional financing requirements such as safety, safety, efficiency and reliability.
Gary Offner, Head of Nasdaq Ventures said “We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world.”
“Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
With $20 million funding, Symbian will accelerate installation in its various business segments, including syndicated loans, private equity, data management, mortgages. In addition, the company will utilize the funds to study new prospects to take advantage of its Assembly platform.
Even now, the platform facilitates financial organizations to retain peer-to-peer quality of transactions without the reqirement of a central authority. Organizations can realize the benefits of a shared a common database shared database with end-to-end privacy.
