Custos Media Technologies raises $420k

Investing | August 31, 2016 By:

Custos Media Technologies has received a new cash injection of over $420,000 from South Africa’s Technology Innovation Agency (TIA).

“TIA has again shown their commitment to support early-stage technology businesses in South Africa. The funding agreement will allow Custos to accelerate product development, while simultaneously freeing up resources to spend on bringing the product to the widest possible market,” said Custos CEO GJ van Rooyen.

The funding round from the TIA is the third in total for Custos, which earlier this year concluded a round of financing with investors that included Innovus Technology Transfer and the New York-based Digital Currency Group. Innovus, owned by Stellenbosch University, also provided a funding round last year. In total Cusos has raised $850,000.

Custos Media Technologies is a startup that uses the bitcoin blockchain to curb film piracy.