Blockchain Technology Partners (BTP) has closed a £2m seed round led by venture capital firms Force Over Mass and Signature Ventures, with participation from early backers Martin Gilbert and Andrew Laing.
The Edinburgh-based company was founded in 2018 with the mission to bring the benefits of distributed ledger technology to business.
BTP aims enable organisations to build multi-party applications by taking care of the underlying technology. The company’s flagship offering, Sextant, helps simplify the deployment and management of enterprise blockchain infrastructure.
The business argues that distributed ledgers and smart contracts have the potential to improve the efficiency, transparency and trustworthiness of business processes, with BTP aiming to implement blockchain more easily, flexibly and cost-effectively than previously possible.
“We are delighted to welcome Force Over Mass and Signature Ventures as investors,” said Duncan Johnston-Watt, chief executive and co-founder of BTP.
“Force Over Mass’ focus on B2B 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.”
Wouter Volckaert, partner at Force Over Mass, commented: “By facilitating the development of blockchain-based applications, BTP’s transformational platform removes a major barrier for businesses looking to adopt enterprise blockchain technology.
“We have been extremely impressed by BTP’s founding team, and we are confident they will continue to lead the sector for years to come.”
With its headquarters in Edinburgh, the start-up also has a presence in Barcelona, London, New York and San Francisco.
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