May 9, 2021

PC TECH THERAPY

PC Tech Therapy Blog by Daniyal Computer

Daml good contract language writer raises $120M in Collection D financing

2 min read



Virtual Asset, the writer of the Daml good contract programming language, has secured $120 million in Collection D financing from buyers 7RIDGE and Eldridge – environment the level for endured enlargement of the blockchain and information infrastructure corporate.

The spectacular investment spherical follows a 12 months of important expansion for Virtual Asset. The corporate tripled its buyer base in 2020, with 50% of latest industry coming from non-blockchain domain names, consistent with Emnet Rios, Virtual Asset’s CFO and COO. He defined:

“We noticed important call for for Daml to resolve interior demanding situations of information silos inside of a company. Because of this, we expanded our product portfolio to fortify 10 other underlying ledgers, together with conventional databases.”

Virtual Asset plans to make use of the finances to increase its group and toughen its interoperability protocol throughout blockchains and standard databases.

The most recent financing spherical follows a $45 million Collection C investment marketing campaign in 2020 that was once led by means of Salesforce, Samsung and VMWare. Virtual Asset is sponsored by means of a number of high-profile corporations, together with IBM, JPMorgan Chase, Accenture and Goldman Sachs, amongst others.

Daml, which stands for Virtual Asset Modeling Language, is a programming language that allows builders to construct full-stack, disbursed packages for blockchain and databases. Daml turned into a freely to be had open-sourced programming language in April 2019. Since then, it’s been followed by means of a number of main organizations.

As Cointelegraph reported in September 2020, Daml is being deployed by means of China’s Blockchain Services and products Community because it pursues decentralized packages. In July 2020, Daml turned into totally built-in with Corda Undertaking, the economic blockchain platform of R3. Daml was once additionally the foundation of a virtual bond providing from Singapore Alternate, a significant keeping corporate within the tiny city-state, remaining September.