A blockchain-based startup Nivaura has successfully completed the second start-up funding round with the total investments reaching $20 million over three rounds. The key support came from the London Stock Exchange Group (LSEG).
According to the reports, the funding round was led by the London Stock Exchange, while other investors included such big players as Santander InnoVentures, Linklaters, Orrick, Transamerica Ventures, MiddleGame Ventures, Digital Currency Group as well as Spencer Lake.
The company representatives stated that the current round brought the bulk of the total investments as compared to the previous two. The funds are said to be used for staff expansion as well as the strengthening of the company’s positions in the USA and Asia, as well as R&D activities.
For reference, the initial seed round was completed in October 2017, followed by the first extension round in January 2018.
The company's target is to make issuing securities and derivatives automated applying the blockchain technology.
Pursuant to Dr Avtar Sehra, the CEO of Nivaura, they intend to launch a number of large projects in cooperation with essential partners in 2019, which may show what the platform can do.
Notably, the London Stock Exchange CEO Nikhil Rathi will join the board of Nivaura along with Lake who will take the position of advisor.
The investments also prove that Nivaura keeps on building bridges with the LSEG. Earlier, the exchange and startup cooperated to issue tokenized securities in the frame of the regulatory sandbox program of the UK Financial Conduct Authority (FCA).