Blockchain Startup SIMBA Chain Raises $1.5 Million

Blockchain Startup SIMBA Chain Raises $1.5 Million

by Alok Kumar

SIMBA Chain, a cloud-based, blockchain-as-a-service (BaaS) platform that enables users, developers, government, and enterprises to quickly develop and deploy blockchain dapps for iOS, Android, and the web, closed a $1.5 million seed funding. The round closed in late December 2019.

Investors include Notre Dame’s Pit Road Fund, Elevate Ventures, and First Source Capital. 

According to the company, the funding will be used to hire additional sales and development personnel to accelerate the market rollout and support the initial execution of some government contracts, including one with the U.S. Air Force to secure its supply chain on battlefields and at home. 

“SIMBA Chain was created so government and corporate entities can address the growing global threat to IT security posed by international ‘bad actors’ as well as individual hackers using blockchain. Our platform makes it simple for people with varying skillsets to quickly deploy dapps by auto-generating custom API that is not dependent on a single blockchain or distributed ledger technology,” said Joel Neidig, Co-founder of SIMBA.

Neidig Added, “SIMBA Chain’s democratization of blockchain enables more organizations to eliminate the vulnerability of a single point of failure inherent in current IT enterprises by creating an immutable repository where once data is stored, it can’t be tampered with, changed or deleted.”

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