Gospel Technology closes £1.4 million round

London-based blockchain startup Gospel Technology has raised £1.4 million in a funding round led by VC firm LocalGlobe. It plans to use the cash to develop its software further and double its headcount from 25 over the next 18 months.

The venture has developed an “enterprise-grade” security platform, underpinned by blockchain, used by clients in such sectors as retail, finance, automotive, government, healthcare and manufacturing.

“For manufacturers and other businesses dealing with critical data there is a problem of trust in data systems, particularly when there is a need to share that data outside the organisation,” says Founder and Chief Executive Ian Smith. “With Gospel technology we can provide an immutable record store so that trust can be fully automated between systems of forward thinking businesses.”

Remus Brett, Venture Partner at LocalGlobe, adds: “The problem Gospel is solving is how big companies stop critical data from being compromised when traditional ‘hub and spoke’ or centralised approaches to data security are failing them. Using blockchain technology Gospel can secure company data, thereby solving one of the biggest challenges of data trust that companies large and small face today.”

Further details here.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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