Level39 member Applied Blockchain has received an investment from oil giant Shell along with Calibrate Partners, a fintech investment firm.
The undisclosed sum is a first for Shell – demonstrating their interest in blockchain technology and its use beyond the typical applications of finance.
Applied Blockchain are already working with Sita, a telecoms company for the world’s biggest airlines, and have been based at Level39 for the past three years.
“Blockchain applications have huge potential to shake up how we do things in the energy industry from streamlining process, to simplifying how we work with our suppliers and serve our customers,” said Shell chief technology officer for IT Johan Krebbers.
Adi Ben-Ari, Founder & CEO at Applied Blockchain, said: “Our experience as one of the earliest companies delivering blockchain solutions into production for both start-ups and corporates has provided us with a unique perspective on the value, and challenges, associated with the technology in the real world. The investments and partnerships will accelerate our growth and enable us to deploy our solutions to a truly global business ecosystem.”