Funderbeam, the Estonian-founded subscription service for startup and investor research, has raised €655,000 (USD745,000) from angel investors and 3TS Capital Partners, taking the company to €1.75 million (USD2 million) in total funding.
Funderbeam says its ambition is to grow into a marketplace for early-stage investments. It aims to offer a suite of low-cost startup-discovery and analysis tools that serve angel investors, prospecting consultants and bootstrapping startups.
This is the company’s final seed round as it builds the startup marketplace based on blockchain technology – a distributed database that maintains a continuously growing list of data records that are hardened against tampering and revision.
Poised for beta launch in late 2015, the marketplace aims to make it easy to invest and trade in startups online so that great teams and investors can create a world where good ideas win.
“The internet may have removed physical barriers, but many others remain. Blockchain technology has the potential to do away with most of them. It is a technology and a network that stores, tracks, and validates digital assets and transactions in blocks of information. In other words, assets, ownership and transactions can all be validated in minutes without the need for third-party processing,” the Funderbeam team said on its blog.
“The blockchain is like penicillin that empowers assets and trading,” the company’s founder and CEO, Kaidi Ruusalepp, added.
Funderbeam’s final seed round brought together a stellar list of current and new investors with backgrounds in investment banking, brokerage,startups and venture capital, including Skype’s cofounder Jaan Tallinn.
Images by Funderbeam.