SIMBA Chain Raises $25M in Series A Funding
Joel Neidig is the CEO of SIMBA Chain. (IIB Photo)
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowSouth Bend-based SIMBA Chain has closed on a $25 million Series A funding round led by Valley Capital Partners in New York. With the funding, the startup says it plans to scale sales, marketing, and development efforts.
SIMBA Chain says the round closed with additional participation from the Notre Dame Pit Road Fund, Elevate Ventures in Indianapolis, and Stanford Law School, as well as individuals affiliated with KKR, Amazon, Apple, Facebook, and SpaceX, among several others.
The company was incubated at the University of Notre Dame and offers a method for deploying blockchain technology. The company says its technology is currently used by the U.S. Air Force, Army, Navy and Marine Corps, and Boeing.
SIMBA Chain says it “expects business enterprises, academic institutions, and others will use its software to manage and monetize digital and physical assets as well as to launch business models that don’t exist today.”
“Demand for our Web3 smart contracts platform has accelerated across all of our markets much quicker than we anticipated,” said Chief Executive Officer and co-founder Joel Neidig. “Users across multiple spectrums have embraced and validated the SIMBA Chain model, which simplifies development of smart contracts. The market has also responded positively to our support of multiple blockchains, including Ethereum, Avalanche, RSK, Stellar, and many others, making SIMBA Chain-based applications simple, highly portable and sustainable.”
SIMBA Chain did not specify whether any jobs would be added as a result of the funding round.