BigchainDB, a scalable blockchain database, has announced that it has raised €3m ($3.37m) in Series A venture capital round that is led by Earlybird Ventures.

According to the reports by CoinDesk, the other investors include innogy SE, RWE Ventures, Digital Currency Group and Anthemis Group. The company’s Series A round is meant to strengthen its security and widen its staff.

"Blockchain is a way to give access to assets equally. You're still going to need intermediaries, but the access is equalized. They will never own your data like Google or Apple or Amazon," Bruce Pon, co-founder and CEO of BigchainDB told CoinDesk.

The company previously in June 2015, raised $ 2 million in seed funding with Digital currency Group and Earlybird Ventures as investors. This funding was for an intellectual property product called Ascribe in early 2015.

BigchainDB allows developers and enterprise to deploy blockchain proof-of-concepts, platforms, and applications with a scalable blockchain database. BigchainDB supports a wide range of industries and use cases from identity and intellectual property to supply chains, energy, IoT and financial ecosystems without sacrificing scale, security or performance.