Topl, the creator of a purpose-built blockchain that helps companies track sustainability initiatives, closed a $15 million Series A round.
Founded in 2017, Topl’s blockchain protocol helps corporations track and tokenize their sustainability impact.
Use cases for the blockchain span companies tracking water usage for their industrial processes, confirming the cold chain for Covid-19 test kits, and monitoring the global journeys of sustainable products, according to a press release issued today.
“Through this latest fundraise and with the strong network we’ve built, we’re looking to accelerate the growth of our ecosystem and setting a goal of at least 100 applications launched by next year,” said Chris Georgen, founder and managing director of Topl, in a statement.
Co-leading the round is Mercury, Republic Asia and Cryptology Asset Group.In 2020, Topl raised $3 million in a seed round, from backers including Mercury, Goose Capital and RevTech Ventures.
Key customers of Topl’s blockchain protocol include BCarbon, a non-profit carbon credit registry.
The recent fundraise follows on from Topl’s announcement of a new grant program that aims to fund web3 startups and developers focused on sustainable transformation.
Topl will be making its first 20 grant awards in the lead up to its private token sale early next year, according to the release.