South Korean blockchain startup Blocko has raised $7.44 million from Korea’s oldest bank, Shinhan, as well as KEB Hana Bank, LB Investment, and Dadam Investment in a Series B+ round.
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Blocko has raised over $20 million to build enterprise level blockchain services for many of Korea’s institutions, including the nation’s stock exchange, the Bank of Korea, Hyundai and the Korea Electronics and Telecommunications Research Institute.
The company launched its own blockchain platform, Aergo, to address the “growing need for data sharing between industries and companies in areas such as identity verification, document management, and the Internet of Things.”
Blocko CEO Won-beom Kim stated the company hopes to “showcase various blockchain-based solutions that can be used in areas that have been difficult to implement, such as smart grids and dark data.”
Many companies around the world are already taking advantage from Aergo in sectors such as manufacturing, banking, mobile, payments, logistics, and distribution. Even local governments are using this new technology.
According to Blocko, Aergo leverages your existing IT or cloud infrastructure for better ROI and ROCE.