Yesterday blockchain information startup Vendia introduced it raised a $30 million Sequence B led by NewView Capital, together with funding from BMW iVentures, amongst a number of others. BMW additionally participated within the startup’s Series A spherical final yr, with $50 million raised since its founding in March 2020.
Vendia’s mission is to allow real-time information sharing throughout company information silos in a permissioned method. Co-founded by Tim Wagner, former Conbase VP of Engineering and ex-general supervisor of Amazon’s serverless providing, AWS Lambda, Vendia takes a unique method to enterprise blockchain functions by offering a serverless blockchain platform. It views the server nodes required by different enterprise blockchains resembling Corda, Material and Quorum as a efficiency limitation. Simply as vital, managing the blockchain server and tech stack is taken into account by many as a significant hurdle to adoption.
“Corporations throughout all industries are struggling to handle and share business-critical information in a safe and scalable approach that additionally permits for a single, shared platform throughout companions,” mentioned Ben Fu, Accomplice at NewView Capital. “The market want for next-gen blockchain options like Vendia is plain.”
The startup says that within the final yr, round half of its prospects moved to Vendia after a failed blockchain venture. Its recurring income is up 16 instances, and buyer numbers have grown greater than 5 fold.
Vendia affords the identical single supply of reality idea as different blockchains, however on the similar time supplies scalability as a result of it’s serverless and has a GraphQL database construction. It additionally lets builders use a wide range of programming languages for sensible contracts. Whereas it began by specializing in AWS it now helps Azure with Google Cloud coming.
“Vendia affords a novel platform resolution for companies that rely on a large number of companions, offering them with the power to onboard companions swiftly, and enabling them to share information with full management and confidence that such information wouldn’t be overwritten or manipulated,” mentioned Kasper Sage, Managing Accomplice at BMW i Ventures.
Different buyers within the spherical included Neythri Futures Fund, Operator Companions, Lux Capital, Neotribe Ventures, Aspenwood Ventures, Sorenson Capital, and Canvas Ventures,