Bluzelle, a blockchain startup headquartered in Singapore, has raised $1.5 million in Series A round from venture capital firms Global Brain, LUN Partners Capital, and existing investor True Global Ventures, Tech In Asia reported.

Founded in 2014, Bluzelle offers a complete and fully integrated stack of blockchain applications, middleware, and data services. Its customers range from SMEs to global enterprises, to which it offers applications in the field of payment networks, insurance, and identity management, among others.

The startup intends to use the funding to develop decentralized database infrastructure, cultivate a community around it, and boost its enterprise offerings. In an online post, Bluzelle CEO Pavel Bains said that the three investors were strategically chosen to help the company grow into new markets.

“Bluzelle is a decentralized service that provides on-demand, scalable databases. It is for software developers who are dissatisfied with the costs, limited scalability, and complexity of existing database systems. Bluzelle is low-cost, quick to deploy, provides high performance, and has a solid scalability path. Bluzelle provides enterprise-grade database services at a price for all Decentralized Application (DApps) developers,” the blog post reads.

The startup has worked on a number of blockchain initiatives. It worked on a blockchain-based insurance app for KPMG and assisted Deloitte in the integration of the Ripple distributed payment system, CoinDesk reported.

Bluzelle is planning to launch an Initial Coin Offering (ICO) in October for its Bluzelle tokens.

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