Tribe raises $21.5m to boost market-ready blockchain tech

The firm is focused on expanding its technology and applications by 2020.

Blockchain accelerator Tribe has raised $21.5m to boost market-ready blockchain technology across its partner companies, the company announced.

With the support of Enterprise Singapore, the firm is focused on expanding the technology and its applications through collaborations by 2020.

To support its global expansion, Tribe has also signed a memorandum of understanding (MOU) with Dubai International Financial Centre (DIFC) FinTech Hive, the largest financial technology accelerator in the Middle East, during the Singapore Fintech Festival X SWITCH 2019, with the goal of supporting its global expansion plans.

Tribe shared the funding round’s results during the first Demo Day of the Tribe Global Demo Tour for the second batch of participating companies in Singapore, which marks the final phase of the accelerator programme. The second edition of the Global Demo Tour will include companies such as Affle, AID: Tech, Aqiliz, Bluezelle, Dimuto, Eximchain, Pilab, Torus, and WhiteCoat.

Demo days were also held in Dubai, Shanghai, and Abu Dhabi.

OpenNodes, a hyperconnected blockchain ecosystem platform, was also launched in association with the Infocomm Media Development Authority (IMDA).