The startup at the heart of a healthcare-focused blockchain consortium has raised $1.85m.

The funding round for Hashed Health was led by Martin Ventures, an existing investor. Blockchain VC firm Fenbushi Capital, along with a group of private investors and relatives of the management team, also took part in the round.

In statements, Hashed Health’s backers positioned the new funding as a way for the consortium to advance its work. Charles Martin, chairman and founder of Martin Ventures, said of the round:

“The healthcare industry must be drastically reformed in order to address problems related to quality, cost and waste. Hashed Health is poised to drive innovation and collaboration to reach these goals.”

Hashed Health launched its consortium last year in a bid to stoke interest amongst US healthcare firms in the tech. It’s one of a number of initiatives focused on healthcare applications, a topic that has led interests from Capital One to the US Food and Drug Administration to test use cases.

Yet large-scale adoption isn’t necessarily a given. As reported by CoinDesk, some of those working in the field say that those working with the tech aren’t exactly aligned with the needs of the healthcare industry.

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