BlockApps receives $41 million in new funding

The enterprise blockchain provider BlockApps intends to use the money to expand its real assets investments.

Heaps of $100 bills

The new funding was secured by Liberty City Ventures, a seed-stage fund focusing on projects that combine technology, media and commerce. BlockApps’s new investors include Morgan Creek Digital, Eidetic Ventures, and Givic.

As part of the agreement, Morgan Creek Digital and Liberty City Ventures will each delegate a representative to join BlockApps’ Board of Directors.

BlockApps issued a statement saying that they hoped to further drive the company’s “go-to-market strategy” and expand its “permissioned blockchain ecosystem of businesses.” They also vowed to bring in more real assets to their flagship enterprise blockchain STRATO.

Murtaza Akbar, a founding partner at Liberty City Ventures, said he expected BlockApps to continue integrating blockchain into other industries, tackling “sustainability challenges and supply chain issues.” The company already serves clients from sectors like agriculture and energy, including Amazon, Bayer Crop Science, and ExxonMobil.

Kieren James-Lubin, CEO of BlockApps, praised the new partnerships and expressed hope that the new investors’ experience would help “scale the business” and expand the customer base.