Gulf News

Blockchain firm Digital Asset raises $120m


NEW YORK. Digital Asset Holdings LLC, the blockchain software developer that caters to corporate applicatio­ns, raised more than $120 million from investors 7Ridge and Eldridge.

The company will use the funds to expand its global workforce by 50 per cent this year and add to its mix of products, according to a statement. The latest round follows a $45 million fund-raising last year that included investment­s from Inc. and Samsung Electronic­s Co. Investors have poured record funding into cryptocurr­ency and blockchain-related companies this year. In the first quarter, 129 startups focusing on digital technology raised about $2.6 billion. That’s more than in all of 2020, when they attracted $2.3 billion in 341 deals.

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