Blockchain Startup Bluzelle Raises $19.5M USD In ICO

Announcements, Blockchain, ICO News | January 23, 2018 By:

Singapore-based blockchain startup Bluzelle has raised $19.5 million in its initial coin offering (ICO). The ICO generated 500 million tokens and sold 165 million – or a third of the total – to investors, including Kenetic Capital, Hashed, Kryptonite 1, and 8 Decimal Capital.

Founded in 2014, Bluzelle started off by providing payments systems to financial institutions such as AIA, Maybank and Temenos. It now offers a complete and fully integrated stack of blockchain applications, middleware, and data services. With this technology, the company has planned applications and tools to support financial institutions, payment networks, and insurance providers. It is also developing a decentralized database to address blockchain storage challenges.

Bluzelle’s advisor list includes Brian Fox, creator of GNU Bash; Alex Leverington, one of the original Core ethereum developers; Prashant Malik, co-creator of Apache Cassandra; and Ryan Fugger, the original creator of the cryptocurrency Ripple.

The funding will be used to scale up its enterprise business, develop its decentralized database platform, and build its initial developer community.

“Selling out the crowdsale is a huge milestone in the growth of our company and our journey to deliver a product that will be a key component of the new, better Internet,” said Bluzelle CEO Pavel Bains. “We have been into this technology for years, and the CEOs and CTOs we work with are just as enthusiastic as us about the product, technology, and the future. With this funding, we will now be able to bring our decentralized database to everyone.”