Chinese blockchain startup Hyperchain Technologies has announced an RMB1.5 billion (approximately $226 million) a series B funding round.
In its official release, Hyperchain listed the investors who are participating in the round including Xinhu Zhongbao, SDIC Gaoxin Industrial Investment Corp., Ltd, Lanshi Investment, Yonghao Investment, and others. It said that once the funding round is complete, it will become the “first quasi-unicorn” enterprise in the blockchain industry.
Xinhu Zhongbao led the round with a total of RMB1.23 billion investment.
In statements, Hyperchain CEO Li Wei said that that the company will use the funding to further improve its position in the blockchain industry and work towards implementing the technology in various sectors such as finance, medical care, energy, trade, logistics, and government.
According to China Money Network, the latest funding round follows a pre-A round which saw participation from Sunyard System Engineering Company Ltd., Insigma Technology Co., Ltd., and Lianlian Pay. Hyperchain has also raised a series A round from a subsidiary of Fosun Group.
Founded in 2016, Hyperchain is an enterprise blockchain and distributed ledger technology company located in Hangzhou, China. Its solutions include data trading system, supply chain finance system of logistics, securities assets system, and others.
