Blockchain startup Digital Asset nabs $120M to knock down data silos

22 Apr, 2021

Blockchain startup Digital Asset nabs $120M to knock down data silos
Photo by Adeolu Eletu on Unsplash

– Blockchain-based app development platform Digital Asset today announced that it raised $120 million in series D funding led by 7Ridge and Eldridge.
– The company plans to use the funding to expand its team and product portfolio with a protocol that enables data to interface across blockchains and databases.
– Digital Asset was cofounded 2014 by Sunil Hirani, Don Wilson, Yuval Rooz, Shaul Kfir, and Eric Saraniecki, and its flagship product is a distributed ledger technology for banks and other financial, health care, and insurance institutions.
– The company asserts that the blockchain can transform disparate data silos into synchronized networks, minimizing latency and errors by ensuring that data remains consistent.

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