Home-grown blockchain start-up secures angel financing

Home-grown blockchain service start-up, Niftron, has been successful in raising Rs. 10 million in the latest round of funding from The Angel Fund of the Lankan Angel Network (LAN), Sri Lanka’s largest network of angel investors.

Via The Angel Fund, Niftron, since its launch last year, had also been able obtain Rs.11 million from angel investors based out of Singapore, Sri Lanka, UK and USA, bringing the total capital raised to Rs. 21 million to date.

Managed by LAN, the Rs.100 million The Angel Fund comprises of 100 angel investors, including many high-profile entrepreneurs and corporate leaders representing close to 30 industries. About 20 percent of its investments are from members based out of Canada, Dubai, Hong Kong, Qatar, Singapore, UK, and USA.

Niftron, which is a blockchain-as-a-service (BaaS) platform that aims to make blockchain simpler and more affordable for businesses at all levels and industries, is one of the first investments made by the Angel Fund since its launch, last year.

Since its beta release, Niftron has attracted local and international customers, including clients engaged in developing blockchain-based certificates and document verifications.