ITM receives pre-A round funding from MediaTek

itm receives funding from mediatek

A Taiwanese blockchainsolutions provider, International Trust Machines Corporation (ITM), has raised fundsfrom the leading IC design company MediaTek.

Julian Chen, CEO and Co-Founder of ITM said that the fresh funding from MediaTek will help the companytake their brand overseas. The funds will be further used for product development targeting B2B users.

Chensaid:“Since we only set up a year ago, most of our on-going projects are domestic. With the surge of demand for our products among the global partners, we are planning to expand our business overseas and hopefully establish more strategic partnerships to allow more people to benefit from our product.”

The investment is an international recognition for ITM which was established a year back. The company’s blockchain software development kit (SDK)can be ported on low-level IoT chips and can be secured with fingerprints.The company’s solutions address the issues that plague the convergence in blockchain and the Internet of Things.

The company has raked in a number of innovation awards in the past year including Meet Taipei 2019 and Qualcomm Innovate in Taiwan Challenge 2019.ITM’s partnership project was recently shortlisted for the 2020 Global Mobile Awards at MWC.