Stratumn, a Paris-based blockchain startup, has raised €600,000 in a funding round led by the French VC firm Otium Venture, and includes Business Angels such as Ledger CEO and Maison du Bitcoin founder, Eric Larchevêque.
“The Blockchain’s ability to create trust without a central authority has the potential to disrupt nearly every industry and many will start to question the legitimacy of actors whose sole purpose was to provide third party trust. It’s the final link in the Uberisation chain” said Bruno Raillard, Partner at Otium Venture.
This initial round will allow the team of 5 to grow to 12 people this year and solidify its footing as a leading provider of Blockchain solutions in France and Europe. The funding will be used to build and promote Stratumn’s blockchain development platform.
Founded by software designer Richard Caetano, and Stephan Florquin, both deeply involved in the Bitcoin and Blockchain ecosystem since 2011, Stratumn lowers the barriers to entry for enterprise developers to easily integrate the features of the Bitcoin Blockchain in their applications.
The prolific environment of the French tech startup scene, coupled with quality of engineers and the support of public institutions were the reasons behind selecting Paris to setup the company, said CEO Caetano.
The platform delivers an API and a broad set of tools which enables features such as irrefutable proof-of-existence of digital documents, securing business processes, as well as digital asset issuance. It has developed an open standard called Chainscript that enables recording states of data and workflows, and leverages the Blockchain to create immutable and verifiable proofs of their existence.
“The objective of Stratumn is to serve as a mechanism to enable workflows to become transparent, easy to audit and non-falsifiable”, the website reads.
Stratumn leverages open source blockchains, which could range from public networks like Bitcoin, Ethereum, Litecoin, Namecoin, or permission networks configured by Blockchain developers such as Eris Industries or Mulitchain.
