Tencent heads up Everledger Series A round
Blockchain platform startup Everledger has closed a $20 million Series A funding round. This was led by Tencent Holdings, with Graphene Ventures, Bloomberg Beta, Rakuten, Fidelity and Vickers Venture Partners also participating.
“This announcement amplifies our commitment to global markets, whilst fuelling our industry momentum as we continue to build Everledger,” says Leanne Kemp, Founder and CEO, Everledger.
“Having this strong investor cohort join us at this stage in our development is both validation of the innovation we’ve displayed to date, and a statement of future intent. They will support us in bringing more visibility to good business practices in industries that impact millions, if not billions of people in developing countries.”
“Everledger’s application of blockchain technology enhances value to consumers and reduces risks for businesses across the industry,” comments James Mitchell, Chief Strategy Officer at Tencent. “We are delighted to support them to improve the transparency and sustainability of global supply chains.”
Everledger and Tencent will now launch a WeChat Mini programme for blockchain-enabled diamonds, connecting key stakeholders in the diamond value chain. The aim is to let WeChat users buy jewellery with more transparency and security. “We are excited to see how this new partnership with Tencent will help to strengthen and extend our developments in China and contribute to other potential partnerships,” Kemp states.