US-based blockchain platform developer Kadena has received $12m in series B financing from investors including quantitative trading and technology firm Susquehanna International Group.
Devonshire Investors, an affiliate of financial services group Fidelity, also took part in the round, as did 3D printing and robotics-focused venture capital firm Asimov Ventures and VC funds SV Angel and Multicoin Capital.
The capital was provided as SAFT (simple agreement for future tokens) financing, which gives investors the right to take cryptocurrency tokens issued by the company at a later date.
Spun off from investment banking firm JP Morgan, Kadena has created a blockchain equipped with a new protocol called Chainweb, whicb utilises parallel-chain architecture technology the company claims can process more than 10,000 transactions a second.
An undisclosed large healthcare company is already using a private blockchain protocol developed by the company, whose co-founders Stuart Popejoy and William Martino previously led JP Morgan’s Emerging Technology blockchain unit.
The company had previously raised approximately $2.3m from Metastable, Kilowatt Capital, Multicoin Capital and blockchain investment and advisory firm Coinfund through a SAFT-based private placement in January this year.