South Korea’s Blockchain Startup Aergoraises $30 million, to Release Base-Layer Public Blockchain Protocol

Blockchain startups are increasing in Asia and they are being funded every now and then. Aergo, a South Korean blockchain startup has been funded $30M by different venture capitalist to release a new base-layer public blockchain. This is the second time for Aergo, as the company got $8.9M (series-B)fundings in June this year.

The funding round included different venture capitalists such as Block Crafters Capital, Sequoia Capital China, Neo Global Capital, Arrington XRP Capital, Rockaway Capital, Dekrypt Capital, FBG Capital, and few others.

The startup is backed by Samsung and is a partner of Blocko, an enterprise blockchain provider. Blocko’s leadership team was founded by Aergo. The company was created under Blocko’s experience and based on Blocko’s twenty-three different private blockchain products.

Aergo has paved the way for different businesses to develop services and applications by sharing data on a distributed and trustless IT platform. Aergo’s platform will be utilized by Blocko to boost their existing blockchain clients with a series of enterprise-IT solutions and cloud-based application development capabilities.

According To Phil Zamani, Chairman and Founder of Aergo, a strong leadership in the open-source enterprise has led to a successful funding round. The company’s approach towards blockchain technology is getting stronger day-by-day since Aergo developed different business strategies in companies like Red Hat.

Since 2014, Blocko’s team has been focusing on Blockchain where the company has provided many blockchain products to companies like Kia Motors, Hyundai and Samsung.