Scottish enterprise blockchain firm, Blockchain Technology Partners, has closed a £2 million seed round led by London-based venture capital firm, Force Over Mass.
Venture capital firm Signature Ventures also participated in the round alongside a number of angel investors, including early backers Martin Gilbert and Andrew Laing.
The funding round marks the second investment boost for BTP in the last 18-months.
In May 2020, the firm announced the appointment of its inaugural non-exec chairman on the back of a successful funding round led by Gilbert and Laing.
“We are delighted to welcome Force Over Mass and Signature Ventures as investors,” said Duncan Johnston-Watt, CEO & Co-founder of BTP.
“Force Over Mass’ focus on B2B software and Signature Ventures’ vision of a decentralized future are complementary and mesh perfectly with our own mission to accelerate the adoption of blockchain technology by enterprises across the board.”
Blockchain Technology Partners
Founded in 2018, Blockchain Technology Partners is headquartered in Edinburgh, but has a presence in Barcelona, London, New York and San Francisco. The firm boasts a number of high-profile clients, including the Tel Aviv Stock Exchange.
The blockchain startup helps organisations unlock the benefits of distributed ledger technology, enabling them to build multiparty applications by taking care of the underlying technology infrastructure.
The company’s flagship product, Sextant, simplifies the deployment and management of enterprise blockchain infrastructure.
“By facilitating the development of blockchain-based applications, BTP’s transformational platform removes a major barrier for businesses looking to adopt enterprise blockchain technology,” said Wouter Volckaert, Partner at Force Over Mass.
“We have been extremely impressed by BTP’s founding team, and we are confident they will continue to lead the sector for years to come,” he added.
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Juliane Hahn, Founding Partner at Signature Ventures, said the firm’s decision to back BTP is grounded in a belief that blockchain “marks the next step” in digital transformation.
“Extensive expertise of distributed systems paired with a fundamental understanding for the pain points of enterprises makes BTP the perfect company to bring this transformation to enterprises and accelerate the adoption of distributed ledger technology,” she said.