Startup intelligence firm Funderbeam raises USD2 million

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.

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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.

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“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.

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Images by Funderbeam.

7 thoughts on “Startup intelligence firm Funderbeam raises USD2 million”

  1. What is the benefit of block chain technology in this case? They are making a database of which companies got funding. Can’t they just keep their own databases secure instead of needing block chains?

    1. Hi Jim! I’m one of the data analysts at Funderbeam. Blockchain technology is not being used to protect the database, but to record and validate transactions that take place on the syndicated marketplace we’re currently developing.

      You can read more about the marketplace and how we’re implementing blockchain technology here: http://blog.funderbeam.com/chromaway/

  2. Slobodan Majstorac

    Dear Sirs I hereby want to welcome you … I would like to start a business in Estonia “Mobile Recycling” where they can introduce it

      1. Slobodan Majstorac

        Dear friend good morning to you a good weekend and a successful week …

        My idea is that in Estonia in the cluster for recycling, for the environment … to promote the program “Mobile recycling” .. acceptable destruction: Paper, cardboard, hard drives — etc.

        I think that’s a respectable program not only for Estonia, but also for neighboring countries … Do you need some more information … What can I do for you, Sincerely Free-Kruzer

      2. Slobodan Majstorac

        Dear my friend …

        Thank you for an address and a prompt reply …

        I intend to apply for e-Estonia … I heard a long time ago through my friend, and later through my local television ..it is a curiosity and a kind of exclusive news …

        I intend to apply for e-Estonia … and I register my business .Delatnost companies would represent other companies in Estonia and companies from outside of Estonia Estonia …

        I am in the recent past had a company that dealt with the “industrial cleaning” and maintenance of premises … My specialty was “clean and protect all types of flooring, protected floors … Representing the company in this environment … Or” when asked Cleaner these floors “…

        As a companion and activities … appeared recycling … At one site with a video profile of the company that offered something new, I mean new or higher in relation to something that exists “Mobile Recycling”

        As for my intentions going to my business ties to the region of Estonia and neighboring countries …

        I’m interested in the possibility of placement “Bitumen and asphalt” on the territory of Estonia ..I want to offer the Estonian cluster to build pureva … Bitumen and asphalt from Iran …

        I hope that I have approached some of my intentions:

        Free-Kruizer

        cenzones@yahoo.com

      3. Slobodan Majstorac

        Dear my friend …

        Thank you for an address and a prompt reply …

        I intend to apply for e-Estonia … I heard a long time ago through my friend, and later through my local television ..it is a curiosity and a kind of exclusive news …

        I intend to apply for e-Estonia … and I register my business .Delatnost companies would represent other companies in Estonia and companies from outside of Estonia Estonia …

        I am in the recent past had a company that dealt with the “industrial cleaning” and maintenance of premises … My specialty was “clean and protect all types of flooring, protected floors … Representing the company in this environment … Or” when asked Cleaner these floors “…

        As a companion and activities … appeared recycling … At one site with a video profile of the company that offered something new, I mean new or higher in relation to somethin

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