Spherity, a project building decentralized identity management solutions, has announced that the Dortmund-based SeedCapital investment fund is joining its seed financing round.
The Spherity team will use the investment to accelerate the development of its core technology to provide interoperable and blockchain-agnostic identity service offerings.
Additionally, the team will focus on extending existing relationships with its customers and on contributing to official refinement processes of the “Decentralized Identifier” and “Verifiable Credential” W3C standards.
With the investment, SeedCapital Dortmund joins High-Tech Gründerfonds (HTGF), which led Spherity’s seed financing round back in October 2019.
“We are pleased to support Spherity, a company that makes a significant contribution to the success of the Internet of Things with its solution. With its high talent concentration and proximity to research institutions such as the two universities and the Fraunhofer Institute, Dortmund offers optimal conditions for their further corporate development.”
– Daniel Harder, VC Project Lead at SeedCapital Dortmund III
With SeedCapital Dortmund, Spherity believes it has a strong partner, well-connected in the Ruhr area of North-Rhine Westphalia, where industry giants such as Thyssen Krupp, Evonik, RWE, and EON are based.
”We greatly appreciate having SeedCapital as a partner at our side. We are very much looking forward to working together and are convinced that SeedCapital’s strong network will take us several steps forward. We will use the investment to scale our team and to accelerate the development of our interoperable and blockchain-agnostic identity cloud services.“
– Dr. Michael Rüther, CFO/COO Spherity