Bluzelle is an on-demand, scalable database service that aims to provide a data storage solution to the decentralised internet
Bluzelle CTO Neeraj Murarka (L) and CEO Pavel Bains (CEO)
Blockchain-powered database startup Bluzelle today announced that it has secured US$1 million in fresh funding from NEO Global Capital, the investment arm of China’s blockchain platform NEO.
This round comes almost two months after the Singapore-based startup scooped a whopping US$19.5 million in an Initial Coin Offering (ICO).
Bluzelle has earlier raised US$1.5 million from Global Brain (Japan), Hashed (Korea), Kryptonite 1 (UK), and True Global Ventures (Europe) in August 2017.
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“We have long admired Bluzelle’s ambition to become the Oracle of decentralised database-as-a-service (DDaaS) and we see their technology as being an integral part of the NEO ecosystem,” said Roger Lim, Partner at NEO Global Capital. “We look forward to companies building on NEO to have a reliable database service they can use to make their products more powerful.”
Founded in 2014, Bluzelle started off by providing payments systems to financial institutions such as AIA, Maybank and Temenos.
In 2016, Bluzelle evolved into an on-demand, scalable database service that aims to provide a data storage solution to the decentralised internet. The firm’s DDaaS uses blockchain to provide a solution that it claims will remove points of failure, increase the efficiency of scaling, provide improved privacy and immutability of data, and enhance overall performance.
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One problem of the current iteration of blockchain tech is that queries can be slow to process — this makes scaling apps and services on the blockchain difficult. Bluzelle says its decentralised data storage and management uses tech such as Swarm (distributed content and storage service) to solve this problem — allowing queries to be executed quickly.
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