Figure Technologies secure $58M in recent funding round


SanFrancisco based company Figure Technologies have secured 58 million dollars in a funding round aimed to raise 103 million dollars.

Figure Technologies funding round

In a recent filing, the US Securities and Exchange Commission (SEC) revealed that Figure Technologies had raised over 58 million dollars in equity offerings aimed to secure 103 million dollars. Figure Technologies is the firm that created Provenance, a blockchain network focusing on tracking supply chains.

The company previously raised 65 million dollars in a funding round held in February this year. Now by raising nearly 60 million dollars, the company has brought its total equity funding to over 120 million dollars. The fund was lead by RPM Ventures and DST Global. Many other firms such as Morgan Creek, Ribbit Capital also participated in the funding round.

Other funding rounds in the crypto industry

Recently the crypto industry is seeing high levels of activity as many projects are appearing with many more trying to raise funds through various methods. Previously ICOs used to be the only way to raise funds for a project, but now projects can raise funds through IPO and other such offerings as well.

In the last few months, many companies have emerged trying to raise funds for projects. Just recently, PayPal led a $4.2 million funding round to support TRM Labs. TRM Labs is a platform dedicated to crypto risk management. Crypto payment service provider also conducted a seed round recently, which saw the participation of venture firms such as Resiliency Ventures and BlackLaunch.

Last month New York-based company Bison Trails conducted a funding round and secured over 25 million dollars. The firm is one of the founding members of the Libra Association.

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Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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