Blockchain-solutions provider for the U.S. Army raises $25 million

The SIMBA Chain startup closed a $25 million financing round led by venture firm Valley Capital Partners, according to a press release.

Joining it were Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund, as well as a number of private investors.

According to the statement, the SIMBA Chain, founded at the University of Notre Dame (Illinois, USA), offers “a simple, fast and energy-efficient way to deploy blockchain applications in a secure and comprehensive environment”.

The startup’s technology automatically generates families of API that support private and public DLT networks, without the involvement of external technical specialists.

According to CEO and co-founder Joel Neidig, SIMBA Chain’s technology is currently used by U.S. Army entities, as well as Boeing and other corporate clients.

“Demand for our smart-contract platform has grown much faster than we expected. Users have embraced and endorsed the SIMBA Chain model, which simplifies smart-contract development. The market has also responded positively to our support for multiple blockchains, including Ethereum, Avalanche, RSK, Stellar and others,” Neidig said.

With the raised funding, the company plans to scale sales, marketing and development. The startup also plans to allocate resources to new lines of business, such as non-fungible tokens (NFTs).

Read about the NFT market’s rapid rise and other notable August 2021 events in ForkLog’s monthly report: