Gem Ups Ante in 2016 with $7.1 Million Funding Round

Gem has made waves thus far in 2016, carving out a niche as the first blockchain company in 2016 to

Gem, a blockchain platform service provider, has captured $7.1 million via Series A funding, led by an assortment of partners, including Pelion Venture Partners, KEC Ventures, Blockchain Capital, Digital Currency Group and RRE Ventures, among others, according to a Gem statement.

Gem has made waves thus far in 2016, carving out a niche as the first blockchain company in 2016 to formally announce a round of funding. At present, the group works to foster and promote the integration of blockchain technology in finance, healthcare, and other data-centric industries.

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According to Micah Winkelspecht, Chief Executive Officer (CEO) and founder of Gem in a recent statement on the funding round: “We believe blockchain technology will transform how people and companies interact. It will underpin entire industries and one day produce a blockchain economy that will form the underlying architecture of our daily lives.”

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In a parallel announcement, Gem has also fortified its board of directors, bringing in Ben Dahl, a partner at Pelion Venture Partners, who was instrumental in leading the funding round. “We have been monitoring the blockchain industry looking for a company that could bridge the divide between enabling developers and their projects, while also advancing blockchain use cases in larger enterprises,” he noted. Moreover, Scott Kriz, the CEO of Bitium, has also been appointed to Gem’s board of directors.

”After spending time with the Gem team and their customers, we became convinced they have the foresight, traction and leadership necessary to connect the enterprise with the efficiencies and benefits of blockchains,” added Mr. Dahl.

“It was obvious to us immediately the Pelion team shared our vision for the future of blockchains and what would be required to get there. We’re excited to have Ben and Pelion join the team and help us do something special,” noted Gem Founder and CEO, Micah Winkelspecht in an accompanying statement.

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