Blockchain innovator secures £2m in funding
Edinburgh-based Blockchain Technology Partners (BTP) has secured £2 million in funding including backing from investment industry veterans Martin Gilbert and Andrew Laing.
The seed round has been led by Force Over Mass, a London-based venture capital firm, and Signature Ventures, an early-stage venture capital fund based in Munich and Berlin, with participation from angel investors including early backers Gilbert and Laing.
BTP, founded in 2018, provides technology to simplify the deployment and ongoing management of blockchain networks.
Last May, Paul Forrest was named as the firm’s inaugural non-executive chairman. He boasts more than 25 years’ experience as a strategy consultant, advising governments and working with multi-national blue-chips including the Ford Motor Company, Walmart, Virgin Galactic and Akzonobel.
Forrest also participated in BTP’S angel funding round which was led by Aberdeen Asset Management co-founder Gilbert and former deputy Laing.
Laing is now an early stage investor while Gilbert joined expanding fintech Revolut as group chairman last January.
Duncan Johnston-watt, chief executive and cofounder of BTP, said: “We are delighted to welcome Force Over Mass and Signature Ventures as investors.
“Force Over Mass’ focus on B2B [business-to-business] software and Signature Ventures’ vision of a decentralised future are complementary and mesh perfectly with our own mission to accelerate the adoption of blockchain technology by enterprises across the board.”