Blockchain technology enabler New Street Technologies has bagged $4 million funding in a follow-on round. The round saw participation from a group of private investors led by Vittal Kadapakkam in the US, prominent Indian bankers, and existing investors including Unitus Ventures and Mohit Davar, Chairman of International Association of Money Transfer Network.
The total fund-raise to date by New Street is $5.5 million.
With operations in India, UAE and parts of Asia, New Street now plans to enter the US, Europe, and Africa.
Four-year-old New Street enables businesses to transform their legacy infrastructure by leveraging blockchain and other modern technologies such as AI, ML & IoT. The Companys flagship blockchain-based middleware – MiFiX, is one of the early commercially successful blockchain ecosystems for the BFSI sector.
The startup is also in conversations with multiple central banks to develop BCT ecosystems for the BFSI sector in their countries.