Pop Icon Peter Gabriel Has Invested in a Blockchain Startup
He further added:
Gabriel, formerly the lead singer of rock group Genesis, invested in Provenance along with Working Capital Fund, Digital Currency Group, Merian Ventures and Plug and Play, according to a news release. The funding round comes months following the startup raised $800,000 seed funding from 2017, as previously documented.
Ahead of Provenance, the Genesis frontman has invested in several of other startups, including Ctrlio, a marketing startup that helps cost comparison websites produce customized promotions. But this appears to be his first investment at a blockchain-focused company.
Famous musician Peter Gabriel is backing UK-based blockchain startup Provenance, although the complete quantity of Gabriel’s investment has yet to be disclosed.
Peter Gabriel image via Shutterstock
In a statement, Gabriel endorsed the startup, saying he believes the funding will be put to great use.
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Additionally, Provenance declared new members to the board of supervisors. Alexsis de Raadt-St.
“We need to have the ability to trust the origin and supply chain, particularly in regards to guaranteeing that things are produced ethically and in an ecologically sound manner. I’m convinced that the service Provenance provides, using their blockchain info system, will find a big job going ahead and will be of amazing use to the customer and supply a level playing field for smaller, more independent manufacturers on that to compete with all the big players”
The startup’s blockchain is geared toward producing transparency in food transport, a problem it has been looking into because the firm was first established in 2013. The company plans to use its own funding to set up a blockchain-powered supply chain platform with over 1,000 customers by 2025, according to the release.