Simba Chain funding round has resulted in seed financing of one and a half million dollars ($1.5M). Simba Chain is a cloud-based platform providing ‘smart-contract-as-a-service’ (SCaaS) to implement blockchain dApps quickly. The company has seen a rapid rise as the number of dApps increases throughout the blockchain ecosystem.
Many blockchain venture capital names participated in the Simba Chain funding round besides prominent angel investors. Participants in the SIMBA Chain funding round include Elevate Ventures, Pit Road Fund, and first Source Capital.
Simba Chain funding round to power its growth
Simba Chain funding round will be used to power growth in the company. The firm is looking to strengthen its sales funnel through additional hiring. More personnel in the development division will empower market rollout. They are also looking to strengthen their government contracts division that currently includes the U.S. Air Force as a supply chain client.
Founder of SIMBA Chain, Joel Neidig, is proud of his recent achievements. He founded the company with Jarek Nabrzyski and Ian Taylor, who are faculty members at the University of Notre Dame. He says that SIMBA Chain is a way for the government authorities to identify and weed out the ‘bad players’ in the global blockchain industry. The rising threat posed by the global hackers who wish to destabilize the government and commercial activities related to the blockchain realm must be identified.
Investors want more as Simba Chain funding round concludes
SIMBA Chain dApps authorization is not dependent on a single blockchain or DLT. Instead, it delivers blockchain democratization that will allow dApps to achieve even more transparency. Organizations can avoid single point vulnerability points that often lead to failures in blockchain implementations. Repositories can be optimized better, and more firms can achieve blockchain nirvana.
Simba Chain funding round has opened up many new possibilities for the firm in the year 2020. The company can undertake strategic hiring and develop more growth-oriented plans. They are also looking at industry partnerships that will empower their vision further.
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