Funding

Gem raises $7.1M in Series A

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What does Gem do?

Gem, is the leading block chain platform provider. The company builds block chain architecture, it provides the tools to go from ideas to production fast. The company empowers developers to rapidly build apps and solutions using cryptocurrency and Bitcoin without the necessity to be an expert in security, cryptography or any underlying protocols. The company also provides bank grade security on cryptocurrency for developer apps without any possession of fund. This company is reinventing bank from the ground level.

How much Gem was funded?

Gem raised $7.1M in Series A on January 6, 2016 from Digital Currency Group, KEC Ventures, Blockchain Capital, RRE Ventures, Amplify.LA and  Pelion Venture Partners.

Previous funding

  • $100k on January 21, 2014 from LA
  • $1.5M on February 11, 2014 from LA, Wavemaker Partners, Blockchain Capital, Birchmere Ventures, Mesa Ventures, First Round, RRE Ventures, KEC Ventures and Metamorphic Ventures.
  • $2M on September 17, 2014 from First Round, RRE Ventures, Tekton Ventures, Idealab, Birchmere Labs,  BTCS, Baroda Ventures, James Joaquin, Blockchain Capital, KEC Ventures, LA, Drummond Road Capital, Metamorphic Ventures and Wavemaker Partners.
  • $1.3M on April 2, 2015 from KEC Ventures, RRE Ventures, First Round, Birchmere Labs,Baroda Ventures, ECEG Partners,  Tekton Ventures, LA, Robert Wilson and Drummond Road Capital

What is next for Gem?

This is the 1st blockchain company in 2016 which has announced a formal round of funding. The company’s investors are attracted to its completely customizable platform which refines blockchain technology into data management app which can be applied cross industry. The company’s CEO and founder, Micah Winkelspecht believes that this technology will transform how people and companies interact.

More about Gem

Gem was founded on January 22, 2014 by Ken Miller and Micah Winkelspecht. It has its headquarters in Venice, CA. The company refines for powering smart networks which connect industries.

 

 

 

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