Blockchain startup Bitmark raises $1.7m in seed funding

Investing | November 25, 2016 By:

Bitmark Inc. announced that it has raised $1.7m in a seed funding round.

Cherubic Ventures, a VC firm focused on early-stage companies, led the round. Bitmark, which is developing technology to register user generated content using blockchain tech, raised the funding from a group of investors that also included Digital Currency Group and WI Harper.

The company plans to establish ownership claims by issuing property titles (or ‘bitmarks’) for user-generated content and data. The combination of a ‘bitmark’ and a digital asset creates a digital property and issuing a ‘bitmark’ for a digital asset, declares an exclusive ownership claim.

“Each day millions of us give away what we create and our personal data for free to entities that are profiting from it, and we don’t get a cut because we can’t claim ownership over it. The notion of property rights in the digital environment is not yet defined. Bitmark changes that notion by giving each of us property rights to our data. You have to own it to make sure that value is clear,” said Bitmark CEO Sean Moss-Pultz.

Bitmark Inc. is a Taiwan-based blockchain startup.