South Bend, IN, September 01, 2021 (GLOBE NEWSWIRE) – (via Blockchain Wire) SIMBA Chain, the technology company that has eliminated the complexities of developing blockchain applications and reduced power consumption, opening the door to a world of users, closed a $ 25 million Series A round of funding led by Valley Capital Partners. The cycle received additional participation from the Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund and individuals affiliated with Kohlberg, Kravis & Roberts (KKR), Amazon, Apple, Facebook, SpaceX, Gap, Estee Lauder, AppLovin, Microsoft, Moelis & Company, Stanford University, Golden State Warriors, founders of Lightspeed Venture Partners and New Enterprise Associates and other individual investors.
SIMBA Chain, a startup incubated at the University of Notre Dame, offers a simple, time-efficient and energy-efficient method to deploy blockchain technology in the most secure and complex environments. Its cutting-edge technology automatically generates a robust family of APIs that support authorized and public blockchains, enabling customers to launch blockchain applications without hiring expensive consultants or consuming valuable technology expertise. And, because SIMBA Chain allows users to choose from a wide range of blockchain technologies, with portability across those chains, the company offers a level of flexibility and customization that traditional blockchain approaches cannot support.
SIMBA Chain technology is currently used by the U.S. Airforce, Army, Navy and Marines, as well as Boeing and a multitude of customers in a wide range of commercial applications, said CEO and co-founder Joel Neidig. “Demand for our Web3 smart contract platform has accelerated across all of our markets much faster than expected. Users of multiple spectra have adopted and validated the SIMBA chain model, which simplifies the development of smart contracts. The market has also responded positively to our support for several blockchains including Ethereum, Avalanche, RSK, Stellar and many more, making SIMBA chain based applications simple, highly portable and durable.
Steve O’Hara, Managing Partner of Valley Capital Partners of Menlo Park, Calif., Said, “Since its inception in 2017, SIMBA Chain has distinguished itself by solving the incredibly difficult problem of building blockchain technology, which is inherently complex and difficult to master. , accessible to all those who wish to take advantage of the advantages that the blockchain has to offer. Thanks to the intellectual depth and insatiable curiosity of its team, SIMBA Chain has succeeded in establishing impressive beachheads in the defense and enterprise markets – a rare thing to see in emerging cutting-edge technologies like blockchain. We are delighted to support SIMBA Chain at this pivotal time. ”
With the additional funding, SIMBA Chain plans to increase sales, marketing and development, and dedicate resources to emerging enterprise-level opportunities, such as non-fungible tokens. SIMBA Chain expects commercial companies, academia and others to use its software to manage and monetize digital and physical assets as well as to launch business models that do not exist today.
“This is one of the most exciting blockchain companies that I have seen in a while,” observed Joseph Grundfest, professor at Stanford Law School, former commissioner of the Securities and Exchange Commission and member of the Center for Blockchain. Stanford Research. “The SIMBA chain solves a very big problem; most companies don’t know how to adopt or manage blockchain technology. SIMBA Chain makes this easy and cheap, so it’s a bit like Stripe for blockchain. In addition, by writing about energy efficient blockchains, SIMBA Chain’s “green solution” addresses the concern that certain blockchains contribute to global warming.
Despite the economic disruptions of the past year, SIMBA Chain has remained focused on unleashing the potential of blockchain for business, government, and education as early examples of what will certainly be many use cases. Over the past 18 months, SIMBA Chain has taken the following steps:
- 360% increase in turnover.
- Paid programs closed with the US Air Force, US Army, US Navy, and US Marine Corp to develop secure, immutable, blockchain-based solutions essential to US national security and effectiveness of combatants.
- Signed contracts with more than 30 higher education institutions in the United States, United Kingdom and Australia that use the SIMBA Chain platform in their business and law schools.
- Has exceeded 6,000 users.
- Development of a digital marketplace using non-fungible tokens for a large university.
Joining the board of directors of the SIMBA chain are Steve O’Hara, Valley Capital Partners; Phil Koen, former CEO of Savvis and Intermedia, and former chairman of Equinix; and Mike Lempres, former EIR at Andreessen Horowitz, and former chief legal and risk officer and member of the board of directors of Coinbase.
Neidig said: “” The entire SIMBA Chain team is delighted with this new investment and what it represents. We are grateful to all who recognized our potential, and we look forward to the future. “
About SIMBA Chain, Inc.
SIMBA Chain’s cloud-based enterprise platform enables universities, industry, governments and individual programmers to rapidly develop and deploy distributed Web 3.0 applications (dApps) across numerous blockchain platforms . SIMBA Chain was founded in 2017 with a grant from DARPA awarded to the University of Notre Dame and ITAMCO and has received numerous awards including a Tibbetts Award from the US Small Business Administration in 2020, the 2019 Mira Award from TechPoint for the new product of the year and the first prize from the source bank. Commercialization Award 2019. SIMBA Chain’s eco-friendly and energy-efficient platform supports Avalanche, Ethereum, Consensys Quorum, Binance Smart Chain, RSK, Stellar, Hyperledger, and other blockchain protocols. Learn more.
CEO and co-founder