Blockchain platform Topl secured $15 Million in Series A Funding

 

Topl, an Austin-based developer of a Blockchain built to drive impact initiatives and sustainable transformation for companies across the globe, has now secured $15 million in a Series A funding round.

Topl was founded by Chris Georgen. It is developing a blockchain ecosystem that gives businesses and individuals the tools to track, tokenize and transact their impact and sustainable initiatives in a cost-effective and user-friendly manner. The company has even helped to track and monetize a wide range of products worldwide which includes ethically sourced coffee, conflict-free diamonds and fair-wage cocoa. Its Blockchain has also helped measure and verify water usage in industrial processes and confirmed the cold chain for the Coronavirus test kits.

Chris Georgen, Founder and Managing Director of Topl, said, "Topl’s blockchain was purpose built to power the next wave of supply chains and markets, that are more sustainable and inclusive. Every decision we’ve made has been relentlessly focused on this problem and it’s exciting to see this approach yielding results with more than 30 different impact-forward use cases already live or approaching launch. Through this latest fundraiser and with the strong network we’ve built, we’re looking to accelerate the growth of our ecosystem and setting a goal of at least 100 applications launched by next year."

Samantha Lewis, Principal at Mercury, said, "Despite broader market dynamics across the Web3 sector, Topl’s strategic and early focus on users allowed the team to build an incredibly strong foundation that can weather cycles by providing an increasingly in-demand service to companies implementing various sustainable initiatives. We are excited to support Topl in this pivotal growth period."

The round was backed by Republic Asia, Mercury, and Cryptology Asset Group.

The blockchain startup, as of now, has plans to use the new funds to launch a traceability platform for sustainability and ethically sourced products later this year.