Everledger Secures Major Funding from Tencent
In a significant boost for the blockchain-enabled supply chain industry, Everledger has raised a staggering $20 million in its latest funding round, with contributions from the powerful Chinese conglomerate Tencent. This strategic partnership is not just cash in the bank; it paves the way for enhanced transparency and security within global supply chains.
What Makes This Partnership So Natural?
Leanne Kemp, the visionary founder and CEO of Everledger, claims that the pairing with Tencent is a natural fit. “Both companies share crucial strategic goals and solutions within their ecosystems,” Kemp noted, highlighting the various synergies that will benefit both parties. This collaboration isn’t just about shared skills; it’s about pushing the envelope in supply chain technology, especially in China.
Blockchain-Powered Diamond Tracking
One of the most exciting developments on the horizon is Everledger’s plan to launch a groundbreaking program for blockchain-enabled diamond tracking using Tencent’s popular WeChat platform. Kemp describes it as “the world’s first WeChat Mini Program for blockchain-enabled diamonds,” a move aimed at connecting all stakeholders in the diamond value chain. This initiative will empower users to make jewelry purchases that come with enhanced transparency and security. It’s a win-win for consumers and industry players alike!
Who Else is Involved?
The funding round saw participation from an array of global investors, including Japan’s retail behemoth Rakuten, Fidelity – the American investment giant, and Bloomberg’s own venture arm, Bloomberg Beta. Add in firms like Vickers Venture Partners and Graphene Ventures, and you’ve got a star-studded cast of backers. Clearly, Everledger is on everyone’s radar!
A Little History on Everledger
Founded in 2015, Everledger has quickly established itself as a leading disruptor in the blockchain tracking space. The company made waves in May 2018 by pioneering blockchain technology specifically for diamond management. Their innovative platform runs on Hyperledger Fabric and is further secured by the IBM Blockchain Platform, allowing for both transparency and accountability in supply chains.
Tencent’s Wider Blockchain Strategy
This funding comes on the heels of Tencent’s major investment in blockchain game developer Immutable, who’s been busy creating the hit game Gods Unchained. As Tencent strengthens its foothold in blockchain technology, you can expect more headlines like this in the future. Who knew investment could feel so good?
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