Points Technology, an AI-powered blockchain startup, announced a multi-million dollar Series A financing round.
K2 Venture Partners, a venture capital firm in China, led the funding round. The company also received a strategic investment from China’s credit tech company, China ChengXin Credit.
Points technology will use the newly injected capital for continuous product research and development and further commercialization.
With the rapid development of digital transformation, IoT, artificial intelligence, big data, and cloud computing globally, the amount of data generated is also growing exponentially. According to IDC, the total volume of global data will increase from 16.1zb in 2016 to 163zb (about 180 trillion GB) in 2025, with a compound growth rate of 26%. At the same time, with the digital infrastructure upgrades in different industries, the computing environment of data is becoming increasingly complex.
Points Technology provides a high performance and configurable blockchain-based confidential computing framework. The company’s blockchain-based platform enables governments, financial service firms, and internet companies to jointly develop machine learning model and perform analysis without exposing the original data to each other. Meanwhile, the platform leverages blockchain for data traceability and audits.
Founded in 2017, Points Technology is backed by several venture capital firms, including Venture Partners, Cherubic Venture, and Ceyuan & NestBio. Currently, the company has operations in Beijing, Shanghai.
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