Clear Gets $13M in Series A Funding to Build High-Volume Transaction System on the Blockchain
Clear, which uses blockchain to enable efficient B2B commerce, has raised $13M in Series A funding. The round was led by Eight Roads with participation from Telefónica Innovation Ventures, Telekom Innovation Pool of Deutsche Telekom, HKT and Singtel Innov8.
The Telekom Innovation Pool (TIP), a strategic investment fund advised by DTCP, announces its investment in Clear, who uses blockchain to enable efficient B2B commerce, has announced the closing of its Series A funding. The company CEO Gal Hochberg explains "what his company does is to take commercial contracts and turn them into digital representations, often known in digital ledger terms as a smart contract." Telcos are investing in this blockchain transaction network because moving payments across borders is still a highly manual task. Using Clear "creates a trusted view of the true status of the relationship within the company's business partners because they're now looking at the same pricing and usage."
According to the press release, "the money should help the company get into full carrier grade production some time in the first half of this year, and then begin to expand into other verticals beyond telcos with the help of today’s investment."
More information on DTCP’s investment can be found here:
DTCP invests in Clear.
Read the full PR on Techcrunch.
Visit the Clear website.