Blockchain ecosystem Topl has raised $15 million in a Series A funding round to help companies track and monetize social impact initiatives, the firm exclusively told TechCrunch.
The raise was co-led by Mercury, Republic Asia and Cryptology Asset Group. The company raised $5 million in a 2020 seed round, Chris Georgen, founder at Topl, shared with TechCrunch.
Its blockchain has been used by a range of entities looking to track products from conflict-free diamonds to ethically sourced coffee and fair-wage cocoa.
“There are new markets, markets with not a lot of trust and markets that have hugely diverse actors,” Georgen said.
“So if I’m dealing with coffee supply chains I have individual small farmers and companies as large as Cargill. Or in the carbon credit space, there’s big and small projects; companies and individuals trying to off-set and they’re very diverse and nobody really knows what to do with each other,” Georgen noted. “There are new very untrustworthy markets and that’s...
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