Everledger, the UK-based developer of a software platform that analyses asset data, has closed a $20m series A round led by internet group Tencent.
Bloomberg Beta, the early-stage investment arm of media group Bloomberg, also participated, along with e-commerce firm Rakuten, investment and financial services group Fidelity, Graphene Ventures and Vickers Venture Partners.
Founded in 2015, Everledger provides software that helps track the progress of assets such as diamonds across their lifetime, using technologies such as blockchain, artificial intelligence, smart labelling and the internet of things.
The company closed the $10.4m first tranche of the round in March 2018, at which time GMP Securities, Future Perfect Ventures (FPV) and Fenbushi Capital were also identified as participants. It named Rakuten, Bloomberg Beta, FPV and Fenbushi as existing backers.
James Mitchell, Tencent’s chief strategy officer, said: “Everledger’s application of blockchain technology enhances value to consumers and reduces risks for businesses across the industry. We are delighted to support Everledger to improve the transparency and sustainability of global supply chains.”
