Ultrain, a public-blockchain technology venture from China, has raised an investment round of $20 million from a number of venture capital firms and crypto funds including Danhua Capital (DHVC), Sky9 Capital, FBG Capital, Ceyuan Venture and 8 Decimal Capital, the company said in a release.
With the latest financing, Ultrain’s valuation has reached $200 million.
Ultrain was previously backed by Morningside, Bluerun Ventures, Aplus Capital and DraperDragon.
“Ultrain supports a variety of potentially large-scale business applications through an innovative consensus mechanism coupled with a developer friendly and efficient smart contract engine. At the same time, its capital and business resources on the global scale can support the future blockchain applications,” said Vincent Zhou, founder of FBG.
Ultrain was co-founded by Ray Guo, former director of Alibaba Security Unit, Emma Liao, former managing director of Golden Brick Capital and William Li, former technical director and chief architect of Ant Financial Blockchain team, in 2017.
The team has already set up 15 international community hubs across New York, Silicon Valley, and Munich to help bridge conventional businesses to a decentralized blockchain platform and expand the scope of market.