US defense contractor Simba Chain raises $25 million to boost NFT efforts

US defense contractor Simba Chain raises $25 million to boost NFT efforts

The United States-based blockchain startup Simba Chain, which provides technology for several U.S. defense organizations, raised fresh funds to scale the business and tap new opportunities like nonfungible tokens (NFTs).

The $25 million Series A funding round was led by Valley Capital Partners with the participation of Notre Dame Pit Road Fund, Elevate Ventures and Stanford Law School Venture Fund, according to an official announcement.

Simba Chain would use the new funding to scale several departments within the company and to dedicate resources to emerging trends like NFTs. The company aims to be the tech provider for business enterprises, academic institutions and others who want to monetize digital and physical assets.

Trending: American Airlines Flight Turns Around and Kicks Off Mother and Her Asthmatic 2-Year-Old Baby Over Mask Policy — Police Meet Them at the Gate

As a startup incubated at the University of Notre Dame, Simba Chain offers a cloud-based smart contract platform with enterprise-level security for organizations that wants to deploy blockchain technology.

The company says that its technology is currently used by the U.S. Air Force, Army, Navy and Marines as well as

Continue reading

You Might Like


Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report •
Thanks for sharing!
Send this to a friend