SIMBA Chain Raises $25M to Boost Sales and Marketing Staff, Expand Into NFTs

The blockchain firm already has multiple U.S. military contracts.

Sep 2, 2021 at 1:17 p.m. UTC
Updated Sep 2, 2021 at 2:05 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

Blockchain-as-a-service firm SIMBA Chain has closed a $25 million Series A funding round led by Valley Capital Partners, the firm announced Thursday.

  • Indiana-based SIMBA Chain said it will use the money to expand its sales and marketing departments, as well as to “dedicate resources to emerging enterprise-level opportunities such as non-fungible tokens.”
  • Other participating investors included the Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund, the founders of Lightspeed Venture Partners and New Enterprise Associates.
  • In January, SIMBA Chain announced it had been awarded a $1.5 million contract from the U.S. Office of Navy Research to build a blockchain system to help ensure a ready supply of weapons.
  • SIMBA’s technology is used by the U.S. Air Force, Army, Navy and Marines, as well as by Boeing and other businesses, for a wide range of commercial applications.
  • The company said it expects academic institutions and more businesses to use its software to manage their digital and physical assets.
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Tanzeel Akhtar is a reporter based in London,UK.

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Tanzeel Akhtar is a reporter based in London,UK.

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