Elliptic, a company specializing in tracking transactions on public blockchains, raised $ 23 million following the results of the Series B financing round, which was headed by the Japanese corporation SBI Holdings.
@elliptic is thrilled to announce our $ 23 million #SeriesB led by @SBIGroup . Big thanks to our customers and partners who helped get us here today! #Crypto assets are the future of #finance . Read full press release below! https://t.co/iJR9wZut66
– elliptic (@elliptic) September 4, 2019
Other investors include AlbionVC, SignalFire, Octopus Ventures and Santander Innoventures.
So, Elliptic intends to gain a foothold in the Asian markets. The company has already opened an office in Singapore and plans to open another one in Japan this week. Note that representatives of SBI Holdings and AlbionVC will be members of the board of directors.
Elliptic founder and CEO James Smith explained the choice of jurisdictions with the progressive views of regulators and the existence of licensing procedures. The company intends to first gain a foothold in Japan, and then conquer the rest of Asia.
He emphasized that SBI Holdings will use Elliptic products that use AI and machine learning, both in its exchange business ( VCTrade ) and in custodial. In addition, SBI Holdings (a major holder of XRP) believes that the company is best suited for tracking transactions on the Ripple network.
It is also known that Elliptic is developing monitoring services for Libra from Facebook and digital currencies from central banks (CBDC).
We add that in the framework of the seed and funding rounds of Series A, the company has raised a total of $ 12 million over the past five years.
Recall, Forbes analysts believe that the main competitor of Elliptic – startup Chainalysis – could become the next "unicorn." To date, the company has already managed to raise $ 53 million.
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