R3 Brings More Funding, Corda in the Limelight
According to reports, David Rutter, founder and CEO of R3, a four year old blockchain startup based in New York, confirmed earlier reports that R3 is raising $1
According to reports, David Rutter, founder and CEO of R3, a four year old blockchain startup based in New York, confirmed earlier reports that R3 is raising $150 million, saying that it is “not yet over,” but that R3 “has made very good progress,” and “will end a part of the New Year early.” Rutter also gave a detailed introduction to R3’s blockchain platform, Corda, which was developed by CTO Richard Gendal Brown of the company, who was an executive architect for industry innovation and business development at IBM.
Blockchain company R3 is expected to complete a financing of $150 million in the first quarter
Analysis based on this information:
R3, a New York-based blockchain startup that has been in business for four years, is reportedly raising $150 million in funding. According to the company’s founder and CEO, David Rutter, the fundraising efforts are far from over, but progress is being made. As the company prepares to welcome the New Year, it is expected to end a part of the year early, which is an indication of the significant strides it has made this year.
R3 has been one of the startups that have gained significant attention and investment in the blockchain industry in recent years. The company has been working on building its blockchain platform, Corda, which, according to Rutter, has made great progress. The platform was developed by Richard Gendal Brown, the company’s CTO and former executive architect for industry innovation and business development at IBM.
Corda, an open-source blockchain platform, is aimed at enterprise-level use, particularly in the financial services sector. The platform seeks to offer transparent and secure systems for financial transactions, enabling banks and other financial institutions to operate more efficiently and cost-effectively. Corda is one of the few blockchain platforms built specifically for the needs of financial services providers, and it has been rolled out to various institutions, including several large banks.
The confirmation of R3’s $150 million fundraising comes as no surprise to experts in the blockchain industry, as the company had indicated earlier in the year that it was planning to secure more funding. The funds will undoubtedly help the company continue to develop Corda and other blockchain solutions for various industries.
In conclusion, R3’s latest fundraising efforts are an indication of the growing interest and investment in blockchain startups. The company’s success also underscores the importance of blockchain platforms like Corda, which offer secure and efficient solutions for various industries, particularly financial services. As the company continues to expand its operations and build its blockchain solutions, it is expected to remain a major player in the blockchain industry.
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