Edinburgh Blockchain BTP in seed funding round

BTP CEO Duncan Johnston-Watt

Edinburgh-based Blockchain Technology Partners (BTP) announced it has closed a seed round of £2 million led by Force Over Mass, a London-based venture capital firm, and Signature Ventures, an early-stage venture capital fund based in Munich and Berlin.

The round also included participation from angel investors including early backers Martin Gilbert and Andrew Laing.

BTP says it enables organizations “to build multiparty applications by taking care of the underlying technology infrastructure.”

The company’s flagship offering Sextant simplifies “the deployment and management” of enterprise blockchain infrastructure.

“Enterprise blockchain technology — particularly distributed ledgers and smart contracts — has the potential to drastically improve the efficiency, transparency and trustworthiness of business processes,” said BTP.

“BTP empowers companies to implement enterprise blockchain far more easily, flexibly and cost-effectively than previously possible.

BTP CEO Duncan Johnston-Watt said: “We are delighted to welcome Force Over Mass and Signature Ventures as investors.

“Force Over Mass’ focus on B2B software and Signature Ventures’ vision of a decentralized future are complementary and mesh perfectly with our own mission to accelerate the adoption of blockchain technology by enterprises across the board.”

Force Over Mass partner Wouter Volckaert said: “We are always on the lookout for deep tech companies with the potential to make a massive impact.

“By facilitating the development of blockchain-based applications, BTP’s transformational platform removes a major barrier for businesses looking to adopt enterprise blockchain technology.

“We have been extremely impressed by BTP’s founding team, and we are confident they will continue to lead the sector for years to come.”

Signature Ventures founding partner Juliane Hahn said: “We believe that blockchain marks the next step in the evolution of digital transformation towards a more decentralized internet architecture.

“Extensive expertise of distributed systems paired with a fundamental understanding for the pain points of enterprises makes BTP the perfect company to bring this transformation to enterprises and accelerate the adoption of distributed ledger technology.”