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SIMBA Chain Raises $25M to Boost Sales and Marketing Staff, Expand Into NFTs
The blockchain firm already has multiple U.S. military contracts.
Blockchain-as-a-service firm SIMBA Chain has closed a $25 million Series A funding round led by Valley Capital Partners, the firm announced Thursday.
- Indiana-based SIMBA Chain said it will use the money to expand its sales and marketing departments, as well as to “dedicate resources to emerging enterprise-level opportunities such as non-fungible tokens.”
- Other participating investors included the Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund, the founders of Lightspeed Venture Partners and New Enterprise Associates.
- In January, SIMBA Chain announced it had been awarded a $1.5 million contract from the U.S. Office of Navy Research to build a blockchain system to help ensure a ready supply of weapons.
- SIMBA’s technology is used by the U.S. Air Force, Army, Navy and Marines, as well as by Boeing and other businesses, for a wide range of commercial applications.
- The company said it expects academic institutions and more businesses to use its software to manage their digital and physical assets.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
