Blockchain startup Topl secured $3 Million funding

Topl, a Texas-based Blockchain ecosystem built to prove company sustainable and ethical practices has now secured $3 million in a seed funding round, reports Crunchbase.

Topl is founded by Kim Raath in the year 2021. It is advancing blockchain technology which allows companies and communities to make verifiable claims about their environment or social impact by recording data to an immutable ledger.

Kim Raath, Topl’s CEO, said, "We help businesses prove what they are claiming. The trend in the ESG community has been around for a while, but today there is a need for absolute sustainability to move forward. Commitments mean nothing without proof."

Blair Garrou, managing director of Mercury Fund, said, "We believed that, over time, impact and ESG would be woven into the operations of more and more businesses–and this has especially come true in 2020. We are big believers in Kim Raath and her co-founders’ vision that companies need a way to measure their ethical and sustainable business practices either for consumer, investor or regulatory purposes. Measurement needs to be transparent and validated, making a purpose-built blockchain the perfect platform."

Mercury Fund led the latest funding round. Other participating investors include Chingona Ventures, RevTech Ventures, GOOSE Capital, Blue Collective, Beni Venture Capital, and Social Impact Capital.

To date, the company has secured $4.4 million in total funding since its inception in 2017.

The company as of now has plans to use the new funds to launch its blockchain-as-a-service (BaaS) offering in 2021.