Blockchain Technology Partners (BTP), an enterprise blockchain company, announced that it’s closed a seed round of £2 million, led by Force Over Mass, a London-based venture capital firm, and Signature Ventures, an early-stage venture capital fund based in Munich and Berlin, with participation from angel investors including early backers Martin Gilbert and Andrew Laing.
BTP helps organizations build multiparty applications by taking care of the underlying technology infrastructure. The company’s flagship offering, Sextant, radically simplifies the deployment and management of enterprise blockchain infrastructure. Sextant is used by Liquidshare, which recently completed a blockchain pilot with Banque de France, and BTP has worked on the Tel Aviv Stock Exchange’s securities lending blockchain project.
Enterprise blockchain technology — particularly distributed ledgers and smart contracts — has the potential to drastically improve the efficiency, transparency and trustworthiness of business processes. BTP empowers companies to implement enterprise blockchain far more easily, flexibly and cost-effectively than previously possible.
Wouter Volckaert, partner at Force Over Mass, said in a statement: “By facilitating the development of blockchain-based applications, BTP’s transformational platform removes a major barrier for businesses looking to adopt enterprise blockchain technology.”
“We believe that blockchain marks the next step in the evolution of digital transformation towards a more decentralized internet architecture,” said Juliane Hahn, founding partner at Signature Ventures, in a statement. “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.”