Telecommunications conglomerate Comcast is expanding its investment in blockchain technology by funding a startup that provides easy deployment, connection and management of nodes. The company led a $3.275 million serial-seed funding round for Blockdaemon.
Other contributors were venture capital firms such as Boldstart, IBM-backed Mstate, Plug and Play, and angel investors including Bitfury seed investor Meagan Jones, Sam Lessin and Jeff Fagnan from Accomplice.
The New York city-based Blockdaemon offers a multi-chain multi-cloud network management tool that can deploy nodes and connect them to blockchains within minutes.
Konstantin Richter, Blockdaemon CEO, said in a blog on the online platform Medium that it will use the funds raised to grow its "engineering team from 10 to 20 in the next 6 months, to enhance infrastructure options, and to help customers run multi-tenant networks across all sorts of different blockchains."
"The global blockchain market is expected to grow significantly over the next few years as wide-ranging industries begin to understand the potential," Comcast Ventures Managing Director and Founder and Managing Partner of Genacast Ventures, Gil Beyda said in a statement.
Beyda will join the board of Blockdaemon as part of the investment.
For comments and feedback contact: editorial@rttnews.com