Blockchain Startup Gem Closes $7.1 Million Series A

Blockchain platform provider Gem has closed a $7.1m in Series A funding round, the company has announced.

AccessTimeIconJan 6, 2016 at 4:49 p.m. UTC
Updated Sep 11, 2021 at 12:04 p.m. UTC

Blockchain API provider Gem has closed a $7.1m Series A funding round, the company has announced.

The round was led by Pelion Venture Partners, with KEC Ventures, Blockchain Capital, Digital Currency Group, RRE Ventures, Tamarisk Global, Drummond Road Capital, Tekton Ventures, Amplify.LA, Danmar Capital and angel investor James Joaquin participating.

The investment brings the total for the Californian startup to $10.4m, with previous rounds raising $3.3m over the last two years.

As part of the deal, Ben Dahl, partner at Pelion Venture Partners, will now sit on Gem's board of directors.

Since launching a multi-signature API for bitcoin developers, Gem says it is now expanding its API to develop a modular platform for blockchain applications that can be applied across multiple industries.

"We believe blockchain technology will transform how people and companies interact," says Micah Winkelspecht, Gem's CEO and founder. "It will underpin entire industries and one day produce a blockchain economy that will form the underlying architecture of our daily lives."

As part of today's announcement, Gem said Scott Kriz, CEO of Bitium, has also been appointed to the board of directors.

Money image via Shutterstock


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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

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 to register and buy your pass now.