Blockchain Startup Provenance Raises $800k in Seed Funding

UK blockchain startup Provenance has raised $800,000.

AccessTimeIconJul 10, 2017 at 11:00 p.m. UTC
Updated Sep 11, 2021 at 1:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

UK blockchain startup Provenance has raised $800,000 in new seed funding.

The list of investors taking part in the round includes Humanity United, a foundation created in 2008 as part of a broader philanthropic network of groups backed by eBay founder Pierre Omidyar and his wife, Pam. Specifically, the group provided the funding through a supply chain initiative launched in 2015.

Other backers of the startup include Alexsis de Raadt-St.James, founder of Merian Ventures, startup accelerator Plug and Play Tech Center, investment firm Digital Currency Group, and a group of UK-based angel investors.

In statements, the startup said that it planned to use the funding to fuel its product launch timeline, with initiatives set to be released this fall. Among those efforts: a partnership with the UK-based charity Soil Association through its Organic September project, which is aimed at expanding the size of the country's organic food market.

"This funding will help us develop our tools to meet the business need for more trustworthy supply chains whilst empowering shoppers to make a positive impact," Provenance CEO Jessi Baker said of the round.

Provenance has been working on supply chain solutions since it was first formed in 2013. A number of major firms worldwide, including China's Alibaba and ZhongAn, have explored applications in this area.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Provenance. 

Organic food shelf image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.