Singapore: Blockchain provider Bluezelle closes $1.5m Series A

Neeraj Murkara (CTO) and Pavel Bains (CEO).

Singapore-based blockchain solutions provider Bluzelle has closed a $1.5 million Series A round with participation from Global Brain, LUN Partners Capital and True Global Ventures.

Investment proceeds will be used by the company to scale up the enterprise business, develop its decentralised database platform, and build its initial developer community.

The venture is developing a decentralised, on-demand database service that is low-cost, quick to deploy, and easily scalable. Bluzelle was recently appointed by the World Economic Forum as a Technology Pioneer for 2017 and named to the Global FinTech 100.

Yasuhiko Yurimoto, CEO of Global Brain, said, “Based on our global investment activity, Bluzelle is one of the only companies to provide solid enterprise blockchain services. With Bluzelle’s team of experts, business position, current solution and future product roadmap, we are confident that Bluzelle will take the blockchain ecosystem to the next frontier.”

Incepted in 2014 to provide blockchain-based solutions for existing legacy systems, Bluezell’s founders – CEO Pavel Bains & CTO Neeraj Murarka – are working to provide blockchain application management solutions for enterprises.

Over the past 15 months, the company has provided solutions for global institutions working with partners such as KPMG, Temenos and Microsoft. While working with its enterprise clients, Pavel and Neeraj recognized the need for better database services that could be used by developers of all sizes.

Bains explains: “Blockchain technologies are propelling the next generation of the Internet, which we call the Internet of Value. By 2020, there will be over 20 billion devices sending data to each other – and that data will have to be stored securely, with high performance and low cost. In the blockchain powered New Internet, everything from applications to back-end platforms to data storage will be decentralised.”

“At Bluzelle, we’re focused on providing a decentralised database service that will allow the New Internet to run efficiently and scale exponen4ally. What Oracle provides for the current Internet, we provide for the New Internet.”

The proposed decentralised database network will consist of producers (farmers) who can earn Bluzelle Tokens by providing hardware resources and consumers (software developers) who use Bluzelle’s data- base services provided by the collective of producers by paying with Bluzelle Tokens. To boost its community building efforts, Bluzelle is looking to make a token sale of its own Bluzelle tokens in late October.

Bains told this portal: “For the database service, we are looking to release a new version every 4-6 months. We plan on an Alpha MVP in December. The goal is to drive up development engagement in Southeast Asia and the west coast US/Canada cities (Vancouver, Seattle, Portland, San Francisco).On our enterprise side, we now have resources to sell beyond just Singapore. We will be focusing on Japan, China and ASEAN countries. Our new investors will help in our growth in Japan and China.”

Given the emergence of Singapore as a leading global destination for conducting initial coin offers (ICOs), Bains explains: “Singapore spent a lot of energy to welcome blockchain startups to its ecosystem. We’re a good case in point having moved from Vancouver 18 months ago. The environment is friendly, collaborative and supportive.”

“It could be that since Switzerland is a major banking centre for Europe and is now it’s token sale destination, companies see similarities in Singapore,” he adds.

As for the possibility of non-blockchain enterprises engaging in ICOs, Bains opines that a token sale should integrate blockchain as it “can solve inherent problems in finance, infrastructure technologies”, with the token within this being key to the network.

He notes: “In our case of a decentralised database service, the token is a way to consume our product in a much more efficient way than using regular payment methods.

Also Read:

China’s Fosun forays into blockchain with Shanghai Distributed Tech investment

Nestle, Unilever, others collaborate with IBM on blockchain

Blockchain maturation in emerging markets to drive future ICO activity

Japanese VCs commit $9m investment in Tech Bureau’s blockchain ICO platform 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.