Symbiont makes a Splash with High Profile Partnerships and Funding
A Company on the Rise
Although Symbiont has been in the game for multiple years now, they are becoming a more well-known name as of late. This is mainly due to interest garnered in their product by large companies, in addition to the ability to secure high-profile partnerships.
Here is a brief look at recent Symbiont achievements, and what to expect from them in the future.
Only recently, blockchain company, Symbiont, has successfully closed its Series B round of funding. This round is comprised of $20 million generated by multiple investors.
- Raptor Group
- Galaxy Digital
To date, Symbiont has raised a total of $36 million through its Series A&B. Prior to investments from companies listed above, Symbiont was the recipient of a notable investment from Medici Ventures in 2017.
The most recent investments were made with NASDAQ leading the way. It is clear that their intention is to keep pace with rivals such as the upcoming Bakkt exchange. To remain competitive, NASDAQ is facilitating the ongoing development of infrastructure necessary to usher in the looming influx of digital securities.
Symbiont stands to benefit beyond the simple funds garnered through the Series B. The investors are companies with reach that spans the globe. NASDAQ alone operates over 25 exchanges throughout multiple continents. By jumping under the NASDAQ umbrella, Symbiont is able to quickly open doors for expansion that would otherwise be difficult to achieve.
Beyond the Numbers
While Symbiont has been successful in terms of funding, they have also been successful in capturing the attention of the government itself. Dating back to 2017, the company has given product demonstrations to the US government. These showed the practicality of the implementation of their software, with regards to the transfer of digital securities.
In addition to government attention, we recently reported on Templum, and their newly formed partnership with Symbiont. In this development, Symbiont will provide Templum with the ability to host STOs on private blockchains.
Words on the Matter
Here are a few quotes from both Symbiont and NASDAQ last month, upon closing the Series B.
Mark Smith, CEO of Symbiont, stated,
“We see this huge opportunity to be able to go all over the globe with NASDAQ…and use this marketplace solution from origination to finality, including ways you can buy and transact new types of instruments backed by our smart-contract technology.”
Gary Offner, Head of NASDAQ Ventures, stated,
“We are committed to discovering and investing in innovative technologies to help build our future market infrastructure used by more than 100 marketplaces around the world…Our investment will also include the integration of Symbiont's enterprise blockchain and smart contract platform into the Nasdaq Financial Framework. We are pleased to support this important, growing area for creating unique institutional applications of blockchain technology.”
Symbiont has been enveloped in the world of blockchain since being founded in 2013. Since then, the company has managed to grow and develop into the Symbiont of today – receiving investments from some of the world’s most prominent companies.
Company operations are overseen by CEO, Mark Smith.