At a Glance
SIMBA Chain raised $25M in Series A from Valley Capital Partners. The company provides a cloud enterprise platform to help universities, industry, governments and individual programmers quickly develop and deploy Web 3.0 distributed applications (dApps) across blockchain platforms
SIMBA Chain, a provider of cloud-based smart-contract-as-a-service for enterprises, recently raised $25 million in a Series A funding round led by Valley Capital Partners to scale sales, marketing and development, a press release by the company said.
The previous funding round for SIMBA Chain came in January this year, where it netted about $3 million in grants and seed. Other investors- Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund and individuals affiliated with Kohlberg, Kravis & Roberts (KKR), Amazon, Apple, Facebook, SpaceX, Gap, Estee Lauder, AppLovin, Microsoft, Moelis & Company, Stanford University, the Golden State Warriors, the founders of Lightspeed Venture Partners and New Enterprise Associates and others- participated in SIMBA’s Series A round.
SIMBA Chain, founded in 2017, provides an enterprise platform on the cloud to help universities, industry, governments and individual programmers quickly develop and deploy Web 3.0 distributed applications (dApps) across blockchain platforms. It offers a simple and energy-efficient method for deploying blockchain technology in secure and complex environments, allowing customers to launch blockchain applications without hiring costly consultants or consuming valuable tech expertise.
Joel Neidig, co-founder and CEO of SIMBA Chain, stated that the demand for the Web3 smart contracts platform accelerated across all SIMBA’s markets quicker than anticipated, with users across multiple spectrums embracing and validating the SIMBA Chain model that simplifies the 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’s technology is currently used by Fortune 500 companies as well as other multi-billion-dollar organizations,”Joel Neidig
SIMBA Chain stated that with the additional funding, it would dedicate resources to emerging enterprises that level opportunities like Non-Fungible tokens. The company said it expects that business enterprises and academic institutions would use its software to manage and monetize digital and physical assets.
Steve O’Hara, managing partner at Valley Capital Partners, opined that SIMBA Chain had solved the tough problem of making blockchain technology, which is inherently complex to master, more accessible to anyone and added,
“Thanks to the intellectual depth and insatiable curiosity of its team, SIMBA Chain has succeeded in establishing impressive beachheads in the defense and enterprise markets – a rare thing to see in emerging frontier technologies like blockchain. We are excited to support SIMBA Chain at this pivotal time.”